Associated Banc (NYSE:ASB) Hits New 1-Year High – Time to Buy?

Associated Banc-Corp (NYSE:ASB)’s share price reached a new 52-week high on Friday . The stock traded as high as $29.54 and last traded at $29.5750, with a volume of 394746 shares traded. The stock had previously closed at $28.96.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. 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. Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Piper Sandler upped their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $30.00 to $29.00 in a research note on Friday, March 27th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Associated Banc presently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

Associated Banc Trading Up 1.4%

The company has a market capitalization of $5.54 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.65 and a beta of 0.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day moving average is $27.71 and its 200-day moving average is $26.93.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, equities research analysts anticipate that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 1st. Associated Banc’s dividend payout ratio is 33.33%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Matthew R. Braeger sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total value of $140,850.00. Following the sale, the executive vice president owned 11,777 shares in the company, valued at approximately $331,758.09. This represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Williams sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total transaction of $112,720.00. Following the completion of the sale, the director owned 67,420 shares in the company, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,299 shares of company stock worth $801,760 in the last ninety days. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP grew its holdings in shares of Associated Banc by 127.6% during 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 during the last quarter. Norges Bank purchased a new stake in shares of Associated Banc during the fourth quarter valued at approximately $54,660,000. Goldman Sachs Group Inc. grew its holdings in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Associated Banc by 4,883.7% during the third quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock valued at $35,625,000 after buying an additional 1,357,862 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Associated Banc during the fourth quarter valued at approximately $27,819,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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.