Associated Banc-Corp (NYSE:ASB) Receives $29.20 Consensus Price Target from Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.20.

ASB has been the topic of a number of recent analyst reports. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Keefe, Bruyette & Woods increased their price target on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Truist Financial boosted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Piper Sandler upped their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, February 17th.

Associated Banc Price Performance

ASB opened at $27.27 on Friday. The stock has a fifty day moving average of $27.11 and a 200-day moving average of $26.24. The firm has a market capitalization of $4.53 billion, a P/E ratio of 9.84, a PEG ratio of 1.24 and a beta of 0.81. Associated Banc has a 12-month low of $18.32 and a 12-month high of $29.51. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The firm had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. During the same period in the previous year, the firm posted $0.72 earnings per share. Equities analysts forecast that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc announced that its board has authorized a share repurchase program on Tuesday, January 27th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Associated Banc Dividend Announcement

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

Insider Transactions at Associated Banc

In other news, Director Eileen A. Kamerick sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the completion of the sale, the director owned 49,264 shares of the company’s stock, valued at approximately $1,380,377.28. This trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick Edward Ahern sold 14,731 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total value of $427,640.93. Following the sale, the executive vice president directly owned 39,401 shares of the company’s stock, valued at $1,143,811.03. This represents a 27.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 59,607 shares of company stock valued at $1,603,545. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in Associated Banc by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after purchasing an additional 394 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after buying an additional 408 shares during the last quarter. US Bancorp DE raised its stake in shares of Associated Banc by 0.5% during the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock worth $2,074,000 after buying an additional 415 shares during the last quarter. LPL Financial LLC lifted its holdings in Associated Banc by 2.3% in the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after buying an additional 426 shares during the period. Finally, Tidal Investments LLC boosted its stake in Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

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.