Stocks of Associated Banc-Corp (NYSE:ASB) traded higher last session on Wall Street, unchanged to $16.99.
According to the data, Associated Banc-Corp (NYSE:ASB) has 11 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 $22.00 and a low of $17.00, we find $19.00. Given the previous closing price of $16.99, this indicates a potential upside of 11.83 percent. ASB stock price is now 5.75% away from the 50-day moving average and -16.70% away from the 200-day moving average. The market capitalization of the company currently stands at $2.47B.
A total of 8 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $18.80 as their price target over the next twelve months.
With the price target maintained at $20, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Associated Banc-Corp (NYSE: ASB).
In other news, GERKEN R JAY, Director bought 3,000 shares of the company’s stock on May 02. The stock was bought for $48,207 at an average price of $16.07. Upon completion of the transaction, the Director now directly owns 42,036 shares in the company, valued at $0.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 26, Director Haddad Michael J bought 5,750 shares of the business’s stock. A total of $99,773 was incurred on buying the stock at an average price of $17.35. This leaves the insider owning 5,750 shares of the company worth $97692.5. Insiders disposed of 137,211 shares of company stock worth roughly $2.33 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 D. E. SHAW & CO., INC. during the first quarter worth $2,501,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $2,408,000 in shares of ASB during the first quarter. In the first quarter, UBS ASSET MANAGEMENT AMERICAS INC acquired a new stake in Associated Banc-Corp valued at approximately $2,333,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in ASB for approximately $2,291,000. ROBECO INSTITUTIONAL ASSET MANAGEMENT B.V. purchased a new stake in ASB valued at around $1,973,000 in the second quarter. In total, there are 409 active investors with 81.60% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $16.89 for Associated Banc-Corp (NYSE: ASB). During the past 12 months, Associated Banc-Corp has had a low of $14.47 and a high of $25.50. The fifty day moving average price for ASB is $16.05 and a two-hundred day moving average price translates $20.38 for the stock.
The latest earnings results from Associated Banc-Corp (NYSE: ASB) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.66, beating analysts’ expectations of $0.64 by 0.02. This compares to $0.47 EPS in the same period last year. The net profit margin was 27.50% and return on equity was 10.00% for ASB. The company reported revenue of $442.82 million for the quarter, compared to $202.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 118.92 percent. For the current quarter, analysts expect ASB to generate $335.26M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 06/01/2023 were paid a $0.21 dividend. On an annualized basis, this represents a $0.84 dividend and a 4.94% percent yield. There was an ex-dividend date of 05/31/2023 for this dividend. In terms of dividend payout ratio, ASB is presently at 32.10%.
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. Associated Banc-Corp was founded in 1861 and is headquartered in Green Bay, Wisconsin.
