Associated Banc-Corp (NYSE:ASB) Receives Consensus Rating of “Hold” from Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $29.20.

Several research analysts have recently issued reports on the company. Barclays reduced their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. UBS Group restated a “buy” rating and set a $28.00 price objective on shares of Associated Banc in a research note on Tuesday, December 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $30.00 price objective (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Keefe, Bruyette & Woods raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd.

Insider Activity at Associated Banc

In other news, EVP Patrick Edward Ahern sold 30,489 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total transaction of $783,567.30. Following the sale, the executive vice president owned 24,055 shares of the company’s stock, valued at $618,213.50. This trade represents a 55.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 2,135 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the transaction, the executive vice president owned 109,842 shares of the company’s stock, valued at approximately $2,900,927.22. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 35,951 shares of company stock worth $925,756. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds have recently bought and sold shares of ASB. Vanguard Group Inc. increased its position in shares of Associated Banc by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after buying an additional 545,185 shares in the last quarter. Geode Capital Management LLC increased its holdings in Associated Banc by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,151,111 shares of the bank’s stock worth $101,256,000 after acquiring an additional 67,219 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the period. American Century Companies Inc. lifted its holdings in Associated Banc by 32.5% during the third quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock valued at $67,606,000 after purchasing an additional 645,676 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Associated Banc by 679.4% during the third quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock valued at $57,171,000 after purchasing an additional 1,938,393 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Trading Down 0.3%

NYSE:ASB opened at $27.26 on Monday. The company has a market capitalization of $4.52 billion, a P/E ratio of 9.84, a PEG ratio of 1.26 and a beta of 0.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.02. The firm has a fifty day simple moving average of $26.45 and a 200-day simple moving average of $25.84.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The company had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same quarter last year, the business posted $0.72 EPS. On average, equities research analysts anticipate that Associated Banc will post 2.43 earnings per share for the current year.

Associated Banc declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, March 2nd. Associated Banc’s dividend payout ratio (DPR) is 34.66%.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.