Brokerages Set Associated Banc Corp (NYSE:ASB) Price Target at $22.00

Shares of Associated Banc Corp (NYSE:ASB) have received a consensus recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $22.00.

Several analysts have weighed in on the company. Stephens set a $22.00 price objective on Associated Banc and gave the company a “hold” rating in a research report on Friday, October 25th. SunTrust Banks set a $22.00 target price on Associated Banc and gave the company a “hold” rating in a research note on Monday, September 9th. Bank of America set a $19.00 price target on Associated Banc and gave the stock a “sell” rating in a research note on Friday, October 25th. ValuEngine upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird lowered Associated Banc from an “outperform” rating to a “neutral” rating in a research report on Tuesday.

In other news, EVP John A. Utz sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $20.04, for a total transaction of $60,120.00. Following the sale, the executive vice president now owns 59,348 shares in the company, valued at $1,189,333.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $20.48, for a total transaction of $40,960.00. Following the sale, the executive vice president now directly owns 56,745 shares of the company’s stock, valued at approximately $1,162,137.60. The disclosure for this sale can be found here. Insiders have sold 53,281 shares of company stock valued at $1,147,056 over the last 90 days. Corporate insiders own 2.69% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ASB. Nisa Investment Advisors LLC purchased a new position in shares of Associated Banc in the second quarter worth $67,000. Tower Research Capital LLC TRC boosted its position in shares of Associated Banc by 56.9% during the third quarter. Tower Research Capital LLC TRC now owns 3,433 shares of the bank’s stock valued at $70,000 after buying an additional 1,245 shares during the last quarter. Avestar Capital LLC purchased a new stake in shares of Associated Banc during the second quarter valued at $150,000. Convergence Investment Partners LLC bought a new stake in Associated Banc in the 3rd quarter worth about $163,000. Finally, Neo Ivy Capital Management bought a new stake in Associated Banc in the 2nd quarter worth about $181,000. Institutional investors and hedge funds own 73.30% of the company’s stock.

Shares of NYSE ASB opened at $21.00 on Friday. The firm has a fifty day simple moving average of $21.06 and a two-hundred day simple moving average of $20.55. Associated Banc has a 12 month low of $18.52 and a 12 month high of $23.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.42 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Associated Banc had a net margin of 21.73% and a return on equity of 9.71%. The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $312.55 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Associated Banc will post 1.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.43%. This is an increase from Associated Banc’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, November 29th. Associated Banc’s payout ratio is 35.47%.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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Analyst Recommendations for Associated Banc (NYSE:ASB)

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