Associated Banc (NYSE:ASB) Receives Equal Weight Rating from Stephens

Stephens restated their equal weight rating on shares of Associated Banc (NYSE:ASB) in a research report report published on Friday morning, Benzinga reports. They currently have a $23.00 target price on the bank’s stock.

A number of other research firms also recently commented on ASB. Piper Sandler lifted their target price on Associated Banc from $21.50 to $23.00 and gave the stock a neutral rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price target on Associated Banc from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Royal Bank of Canada reiterated a sector perform rating and set a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Raymond James lifted their price target on Associated Banc from $21.00 to $25.00 and gave the company an outperform rating in a research report on Monday, January 29th. Finally, Barclays lifted their price target on Associated Banc from $22.00 to $24.00 and gave the company an equal weight rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $23.13.

Associated Banc Trading Up 0.9 %

Associated Banc stock opened at $21.57 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. Associated Banc has a 52 week low of $14.47 and a 52 week high of $22.16. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The stock has a 50-day moving average price of $20.79 and a 200 day moving average price of $19.75.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 25th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a return on equity of 8.33% and a net margin of 6.86%. The firm had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Associated Banc will post 2.13 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Thursday, February 29th. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Insider Activity

In other news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now directly owns 89,880 shares in the company, valued at $1,905,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now directly owns 89,880 shares in the company, valued at $1,905,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now owns 50,126 shares of the company’s stock, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders sold 21,710 shares of company stock worth $454,897 over the last three months. 1.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Associated Banc

Several large investors have recently made changes to their positions in ASB. SG Americas Securities LLC increased its position in shares of Associated Banc by 64.0% during the third quarter. SG Americas Securities LLC now owns 90,428 shares of the bank’s stock worth $1,547,000 after purchasing an additional 35,279 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Associated Banc by 10.9% during the third quarter. Commonwealth Equity Services LLC now owns 35,226 shares of the bank’s stock worth $603,000 after purchasing an additional 3,451 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Associated Banc by 15.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,284 shares of the bank’s stock worth $518,000 after purchasing an additional 3,947 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Associated Banc by 14.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,227 shares of the bank’s stock worth $1,270,000 after purchasing an additional 9,363 shares in the last quarter. Finally, Advisor Partners II LLC boosted its stake in Associated Banc by 97.2% during the third quarter. Advisor Partners II LLC now owns 20,568 shares of the bank’s stock worth $352,000 after buying an additional 10,140 shares during the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.