Associated Banc-Corp (NYSE:ASB) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Associated Banc-Corp (NYSE:ASB) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $32.50.

Several research analysts have recently weighed in on the company. Truist Financial upped their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Wells Fargo & Company dropped their price objective on shares of Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Barclays boosted their target price on shares of Associated Banc from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. Piper Sandler boosted their price target on shares of Associated Banc from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a research report on Monday, September 21st.

Insider Activity at Associated Banc

In related news, EVP Randall Erickson sold 43,561 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total value of $1,395,694.44. Following the completion of the transaction, the executive vice president directly owned 56,091 shares in the company, valued at $1,797,155.64. This trade represents a 43.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total value of $521,763.00. Following the transaction, the executive vice president owned 13,809 shares in the company, valued at $442,026.09. The trade was a 54.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,170 shares of company stock valued at $1,957,840 over the last three months. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Associated Banc

Large investors have recently bought and sold shares of the company. IAG Wealth Partners LLC increased its holdings in shares of Associated Banc by 4,250.0% in the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after buying an additional 1,190 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Associated Banc in the 3rd quarter worth $55,000. Western Wealth Management LLC purchased a new stake in shares of Associated Banc during the 1st quarter valued at $59,000. Global Retirement Partners LLC bought a new stake in Associated Banc during the second quarter valued at $68,000. Finally, Nykredit A S acquired a new stake in shares of Associated Banc during the second quarter worth $73,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Stock Performance

ASB stock opened at $30.26 on Wednesday. The company has a market capitalization of $5.62 billion, a P/E ratio of 10.47, a PEG ratio of 1.02 and a beta of 0.80. The business has a 50-day moving average price of $29.69 and a 200 day moving average price of $28.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.92 and a quick ratio of 0.92. Associated Banc has a 1-year low of $23.87 and a 1-year high of $32.46.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 22nd. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. The business had revenue of $468.51 million for the quarter, compared to analyst estimates of $463.69 million. Associated Banc had a return on equity of 10.75% and a net margin of 19.87%. During the same quarter last year, the company earned $0.73 EPS. As a group, equities research analysts forecast that Associated Banc will post 2.99 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. This is an increase from Associated Banc’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, December 1st. Associated Banc’s dividend payout ratio (DPR) is presently 34.60%.

Associated Banc Company Profile

Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.