Associated Banc (NYSE:ASB) Sets New 1-Year High – What’s Next?

Associated Banc-Corp (NYSE:ASB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.06 and last traded at $28.0050, with a volume of 810661 shares changing hands. The stock had previously closed at $27.26.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Tuesday, December 2nd. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Sunday. Keefe, Bruyette & Woods increased their price target on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Finally, Royal Bank Of Canada upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Associated Banc has an average rating of “Hold” and an average target price of $29.20.

Associated Banc Trading Up 1.9%

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. The firm has a market cap of $4.78 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.30 and a beta of 0.81. The firm’s 50-day simple moving average is $26.58 and its 200 day simple moving average is $25.90.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The company had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. During the same quarter last year, the business posted $0.72 EPS. As a group, analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.24 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.3%. Associated Banc’s payout ratio is presently 34.66%.

Associated Banc declared that its Board of Directors has approved a share repurchase plan on Tuesday, January 27th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Patrick Edward Ahern sold 30,489 shares of Associated Banc stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the sale, the executive vice president owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This trade represents a 55.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John B. Williams sold 2,325 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total transaction of $65,216.25. Following the sale, the director directly owned 70,959 shares in the company, valued at approximately $1,990,399.95. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 38,276 shares of company stock valued at $990,972. 1.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in shares of Associated Banc by 2,033.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,139 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after buying an additional 1,047 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Associated Banc in the 2nd quarter worth $34,000. Finally, Quent Capital LLC bought a new position in shares of Associated Banc in the 3rd quarter worth $34,000. 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.