Associated Banc-Corp (NYSE:ASB) Given Average Rating of “Moderate Buy” by Brokerages

Associated Banc-Corp (NYSE:ASB) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.60.

ASB has been the topic of several research reports. Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Raymond James Financial increased their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Barclays raised their target price on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, Truist Financial lifted their target price on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a report on Tuesday, August 4th.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $30.71 on Friday. The business’s fifty day moving average price is $30.78 and its 200 day moving average price is $28.45. Associated Banc has a twelve month low of $23.86 and a twelve month high of $32.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $5.80 billion, a P/E ratio of 10.74, a PEG ratio of 1.04 and a beta of 0.77.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, research analysts anticipate that Associated Banc will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s payout ratio is currently 33.57%.

Insider Buying and Selling

In related news, EVP Nicole M. Kitowski sold 7,663 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total transaction of $236,863.33. Following the transaction, the executive vice president directly owned 45,327 shares of the company’s stock, valued at approximately $1,401,057.57. The trade was a 14.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory Warsek sold 16,300 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the sale, the executive vice president directly owned 13,809 shares of the company’s stock, valued at $442,026.09. This trade represents a 54.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 101,823 shares of company stock valued at $3,150,761. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Associated Banc in the second quarter valued at approximately $715,927,000. First Trust Advisors LP raised its position in shares of Associated Banc by 127.6% during the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock worth $154,416,000 after purchasing an additional 3,347,699 shares during the period. Norges Bank bought a new stake in shares of Associated Banc in the 4th quarter worth approximately $54,660,000. Pzena Investment Management LLC acquired a new position in Associated Banc during the 2nd quarter valued at approximately $61,240,000. Finally, Goldman Sachs Group Inc. grew its stake in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

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.