Several other equities research analysts also recently weighed in on ASB. Keefe, Bruyette & Woods decreased their price target on Associated Banc from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Friday, April 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $27.00 price target on shares of Associated Banc in a report on Monday, April 28th. Truist Financial began coverage on Associated Banc in a report on Tuesday, May 13th. They set a “hold” rating and a $26.00 price target for the company. Stephens cut their price objective on Associated Banc from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $27.00 to $26.00 in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.78.

Get Our Latest Stock Analysis on ASB

Shares of NYSE ASB opened at $25.66 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a fifty day moving average price of $23.69 and a 200 day moving average price of $23.36. Associated Banc has a 1-year low of $18.32 and a 1-year high of $28.18. The company has a market cap of $4.25 billion, a PE ratio of 29.84, a P/E/G ratio of 1.12 and a beta of 0.80.

Associated Banc (NYSE:ASB – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Associated Banc had a return on equity of 8.47% and a net margin of 6.02%. The firm had revenue of $348.97 million during the quarter, compared to the consensus estimate of $347.86 million. During the same period last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Associated Banc will post 2.43 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, June 2nd. Associated Banc’s dividend payout ratio is currently 106.98%.

In other news, CEO Andrew J. Harmening purchased 12,910 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the transaction, the chief executive officer directly owned 319,269 shares in the company, valued at $7,423,004.25. This represents a 4.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ASB. Goldman Sachs Group Inc. increased its position in shares of Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Associated Banc in the fourth quarter valued at $37,662,000. Norges Bank purchased a new position in shares of Associated Banc in the fourth quarter valued at $36,144,000. Vanguard Group Inc. boosted its stake in shares of Associated Banc by 8.7% during the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank’s stock valued at $431,798,000 after acquiring an additional 1,444,068 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Associated Banc by 200.3% during the first quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock valued at $42,853,000 after acquiring an additional 1,287,458 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

(Get Free Report)

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.

- Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.