Associated Banc (NYSE:ASB) Sets New 52-Week High – Should You Buy?

Associated Banc-Corp (NYSE:ASB) shares hit a new 52-week high on Wednesday . The stock traded as high as $32.01 and last traded at $31.9020, with a volume of 85404 shares. The stock had previously closed at $31.88.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ASB shares. Robert W. Baird increased their target price 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. Barclays boosted their price target on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler lifted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Associated Banc Price Performance

The stock has a market capitalization of $6.02 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50-day simple moving average is $30.26 and its 200-day simple moving average is $28.22.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The company had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. During the same period in the previous year, the business earned $0.65 EPS. As a group, sell-side analysts expect that Associated Banc-Corp will post 2.91 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. Associated Banc’s payout ratio is presently 33.57%.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Derek S. Meyer sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total transaction of $307,400.00. Following the completion of the transaction, the executive vice president owned 61,662 shares in the company, valued at approximately $1,895,489.88. This represents a 13.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,962 shares of company stock worth $1,233,303 in the last quarter. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Associated Banc during the 2nd quarter worth approximately $715,927,000. First Trust Advisors LP increased its position in 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 buying an additional 3,347,699 shares during the period. Norges Bank acquired a new stake in shares of Associated Banc during the fourth quarter worth $54,660,000. Pzena Investment Management LLC acquired a new stake in shares of Associated Banc during the second quarter worth $61,240,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares during the period. 82.98% of the stock is 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.