Stocks of Associated Banc-Corp (NYSE:ASB) traded higher last session on Wall Street, up 2.29% to $23.21.
According to the data, Associated Banc-Corp (NYSE:ASB) has 10 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $28.00 and a low of $23.00, we find $25.00. Given the previous closing price of $22.69, this indicates a potential upside of 10.18 percent. ASB stock price is now -1.11% away from the 50-day moving average and 9.09% away from the 200-day moving average. The market capitalization of the company currently stands at $3.47B.
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A total of 9 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $25.13 as their price target over the next twelve months.
With the price target maintained at $24, BofA Securities recently Upgraded its rating from Underperform to Neutral for Associated Banc-Corp (NYSE: ASB). On March 21, 2022, Wells Fargo Upgraded its previous ‘Equal Weight’ rating to ‘Overweight’ on the stock increasing its target price from $26 to quote $28, while ‘BofA Securities’ rates the stock as ‘Underperform’.
In other news, Stadler Tammy C., Principal Accounting Officer sold 10,941 shares of the company’s stock on Nov 22. The stock was sold for $270,015 at an average price of $24.68. Upon completion of the transaction, the Principal Accounting Officer now directly owns 57,510 shares in the company, valued at $1.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07, Executive Vice President Stein David L sold 12,000 shares of the business’s stock. A total of $291,785 was realized by selling the stock at an average price of $24.32. This leaves the insider owning 70,485 shares of the company worth $1.64 million. Insiders disposed of 187,762 shares of company stock worth roughly $4.36 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ASB stock. A new stake in Associated Banc-Corp shares was purchased by BROOKFIELD CORP /ON/ during the first quarter worth $8,783,000. INTERVAL PARTNERS, LP invested $7,427,000 in shares of ASB during the first quarter. In the first quarter, SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in Associated Banc-Corp valued at approximately $4,206,000. BECK BODE, LLC acquired a new stake in ASB for approximately $3,169,000. GREAT WEST LIFE ASSURANCE CO /CAN/ purchased a new stake in ASB valued at around $2,386,000 in the second quarter. In total, there are 388 active investors with 81.60% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $22.90 for Associated Banc-Corp (NYSE: ASB). During the past 12 months, Associated Banc-Corp has had a low of $17.45 and a high of $25.78. The fifty day moving average price for ASB is $23.47 and a two-hundred day moving average price translates $21.28 for the stock.
The latest earnings results from Associated Banc-Corp (NYSE: ASB) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $0.62, beating analysts’ expectations of $0.59 by 0.03. This compares to $0.56 EPS in the same period last year. The net profit margin was 33.50% and return on equity was 8.50% for ASB. The company reported revenue of $314.71 million for the quarter, compared to $200.28 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.13 percent. For the current quarter, analysts expect ASB to generate $345.4M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 12/01/2022 were paid a $0.21 dividend. On an annualized basis, this represents a $0.84 dividend and a 3.62% percent yield. There was an ex-dividend date of 11/30/2022 for this dividend. In terms of dividend payout ratio, ASB is presently at 37.20%.
Associated Banc-Corp(ASB) 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 operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. Its Corporate and Commercial Specialty segment offers 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; 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; specialized financial services such as interest rate risk management, foreign exchange solutions, and commodity hedging; fiduciary services such as administration of pension, profit-sharing and other employee benefit plans, fiduciary and corporate agency services, and institutional asset management; and investable funds solutions such as savings, money market deposit accounts, IRA accounts, CDs, fixed and variable annuities, full-service, discount and online investment brokerage; investment advisory services; and trust and investment management accounts. The company’s Community, Consumer, and Business segment offers lending solutions, such as residential mortgages, home equity loans and lines of credit, personal and installment loans, auto loans, business loans, and business lines of credit; and deposit and transactional solutions such as checking, credit, debit and pre-paid cards, online banking and bill pay; and money transfer services. As of December 31, 2021, the company operated 215 banking branches. Associated Banc-Corp was founded in 1861 and is headquartered in Green Bay, Wisconsin.
