Associated Banc-Corp (NYSE:ASB) to Issue Quarterly Dividend of $0.23

Associated Banc-Corp (NYSE:ASB) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.23 per share by the bank on Monday, December 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22.

Associated Banc has raised its dividend by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 12 years. Associated Banc has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Associated Banc to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 38.9%.

Associated Banc Price Performance

Shares of ASB stock traded down $0.07 during trading hours on Thursday, hitting $23.95. The company’s stock had a trading volume of 52,770 shares, compared to its average volume of 1,331,369. The business has a fifty day moving average of $21.88 and a 200-day moving average of $21.52. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 1.66 and a beta of 0.93. Associated Banc has a twelve month low of $15.94 and a twelve month high of $24.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, equities research analysts anticipate that Associated Banc will post 2.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at $2,269,730.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

ASB has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price target on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Piper Sandler raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.89.

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.