Associated Banc (NYSE:ASB) Sets New 52-Week High – Still a Buy?

Associated Banc-Corp (NYSE:ASB)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $32.01 and last traded at $31.9020, with a volume of 85404 shares. The stock had previously closed at $31.88.

Analysts Set New Price Targets

ASB has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Barclays boosted their price target on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Piper Sandler raised their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Associated Banc Stock Down 0.0%

The business has a 50 day moving average of $30.26 and a 200 day moving average of $28.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s dividend payout ratio is currently 33.57%.

Insider Buying and Selling at Associated Banc

In other news, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value of $140,850.00. Following the completion of the sale, the executive vice president directly owned 11,777 shares in the company, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nicole M. Kitowski sold 7,663 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total transaction of $236,863.33. Following the completion of the transaction, the executive vice president directly owned 45,327 shares of the company’s stock, valued at approximately $1,401,057.57. This represents a 14.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,962 shares of company stock worth $1,233,303 over the last ninety days. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASB. BlackRock Inc. acquired a new position in shares of Associated Banc in the 2nd quarter valued at $715,927,000. Vanguard Group Inc. raised its holdings in Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after buying an additional 545,185 shares during the period. Dimensional Fund Advisors LP raised its holdings in Associated Banc by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank’s stock worth $253,709,000 after buying an additional 170,080 shares during the period. State Street Corp lifted its stake in Associated Banc by 1.7% in the fourth quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock valued at $224,404,000 after buying an additional 147,372 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Associated Banc by 127.6% in the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after buying an additional 3,347,699 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

About Associated Banc

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.