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

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $29.20.

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

Insider Transactions at Associated Banc

In related news, Director Eileen A. Kamerick sold 6,600 shares of the 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 represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Williams sold 2,325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total transaction of $65,216.25. Following the completion of the transaction, the director owned 70,959 shares in the company, valued at $1,990,399.95. The trade was a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,656 shares of company stock worth $677,789 in the last three months. 1.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Several large investors have recently made changes to their positions in ASB. Smartleaf Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 408 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Associated Banc in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the period. Quent Capital LLC purchased a new position in Associated Banc in the third quarter valued at about $34,000. Finally, First Horizon Corp acquired a new position in shares of Associated Banc during the third quarter worth about $39,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Performance

NYSE ASB opened at $24.42 on Tuesday. The business’s 50-day moving average price is $26.81 and its 200 day moving average price is $26.20. 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 has a twelve month low of $18.32 and a twelve month high of $29.51. The company has a market capitalization of $4.04 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.11 and a beta of 0.80.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, beating 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 company had revenue of $393.52 million during the quarter, compared to analysts’ expectations of $382.06 million. During the same quarter in the previous year, the business earned $0.72 EPS. On average, research analysts predict that Associated Banc will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

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

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

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.