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

Associated Banc-Corp (NYSE:ASB)’s stock price reached 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 changing hands. The stock had previously closed at $31.88.

Analyst Ratings Changes

A number of analysts recently commented on ASB shares. Barclays boosted their target price on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company raised their target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday. Robert W. Baird lifted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods upped their price target on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.60.

Associated Banc Stock Up 0.3%

The firm has a 50-day moving average of $30.46 and a two-hundred day moving average of $28.29. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.09 and a beta of 0.77. 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 data on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.91 earnings per share for the current year.

Associated Banc Announces Dividend

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

Insider Transactions at Associated Banc

In other Associated Banc news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the sale, the executive vice president directly owned 21,385 shares of the company’s stock, valued at $604,340.10. The trade was a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nicole M. Kitowski sold 7,663 shares of the stock in a transaction 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 owned 45,327 shares in the company, valued at approximately $1,401,057.57. This trade represents a 14.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 101,823 shares of company stock valued at $3,150,761 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Associated Banc

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in shares of Associated Banc by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after acquiring an additional 394 shares in the last quarter. LPL Financial LLC raised its stake in shares of Associated Banc by 2.3% in the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after acquiring an additional 426 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Associated Banc by 2.0% in the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after acquiring an additional 549 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Associated Banc by 1.8% in the 4th quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock worth $896,000 after purchasing an additional 619 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Associated Banc by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock worth $1,018,000 after purchasing an additional 700 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.