Associated Banc-Corp (NYSE:ASB) Declares Quarterly Dividend of $0.24

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.24 per share by the bank on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 1st.

Associated Banc has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Associated Banc has a dividend payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 29.4%.

Associated Banc Stock Performance

ASB stock traded down $0.23 during midday trading on Wednesday, reaching $30.83. The company had a trading volume of 41,784 shares, compared to its average volume of 2,257,324. The firm has a market capitalization of $5.82 billion, a PE ratio of 10.79, a P/E/G ratio of 1.13 and a beta of 0.76. The stock has a 50 day moving average price of $29.59 and a 200 day moving average price of $27.88. Associated Banc has a fifty-two week low of $23.63 and a fifty-two week high of $31.83. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last announced 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 return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $450.44 million for the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the prior year, the firm earned $0.65 EPS. Analysts anticipate that Associated Banc will post 2.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ASB. Truist Financial raised their target price on Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.