Brokerages Set Associated Banc-Corp (NYSE:ASB) Price Target at $29.20

Shares of Associated Banc-Corp (NYSE:ASB) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $29.20.

ASB has been the subject of several recent research reports. UBS Group reissued a “buy” rating and set a $28.00 price target on shares of Associated Banc in a report on Tuesday, December 2nd. Piper Sandler raised their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Zacks Research raised shares of Associated Banc from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th.

Insider Activity

In other Associated Banc news, Director John B. Williams sold 2,325 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total value of $65,216.25. Following the completion of the sale, the director owned 70,959 shares in the company, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 6,600 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $28.02, for a total value of $184,932.00. Following the sale, the director directly owned 49,264 shares in the company, valued at approximately $1,380,377.28. This represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,656 shares of company stock worth $677,789 in the last three months. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Several institutional investors have recently made changes to their positions in ASB. Smartleaf Asset Management LLC raised its stake in Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Associated Banc in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares in the last quarter. Quent Capital LLC purchased a new stake in Associated Banc during the 3rd quarter valued at approximately $34,000. Finally, First Horizon Corp bought a new stake in shares of Associated Banc during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Up 0.6%

ASB opened at $24.48 on Tuesday. The firm’s 50 day simple moving average is $26.85 and its two-hundred day simple moving average is $26.22. The company has a market capitalization of $4.05 billion, a PE ratio of 8.84, a PEG ratio of 1.11 and a beta of 0.80. Associated Banc has a 1-year low of $18.32 and a 1-year high of $29.51. 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 (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. During the same period in the prior year, the business posted $0.72 EPS. As a group, equities analysts forecast that Associated Banc will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.9%. Associated Banc’s dividend payout ratio is 34.66%.

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

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.