Associated Banc Corp (NYSE:ASB) declared a quarterly dividend on Wednesday, April 25th, Wall Street Journal reports. Shareholders of record on Friday, June 1st will be given a dividend of 0.15 per share by the bank on Friday, June 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, May 31st.
Associated Banc has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 27.1%.
NYSE ASB opened at $27.65 on Friday. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.00 and a beta of 1.00. Associated Banc has a 1 year low of $20.95 and a 1 year high of $27.95. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.91.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 19th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.09. The company had revenue of $300.25 million for the quarter, compared to analysts’ expectations of $292.49 million. Associated Banc had a return on equity of 8.53% and a net margin of 18.87%. During the same quarter in the prior year, the company earned $0.35 earnings per share. analysts anticipate that Associated Banc will post 1.97 EPS for the current year.
In other Associated Banc news, Director William R. Hutchinson sold 15,032 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $24.42, for a total transaction of $367,081.44. Following the sale, the director now directly owns 81,013 shares of the company’s stock, valued at approximately $1,978,337.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tammy C. Stadler sold 6,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $25.81, for a total transaction of $154,860.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,468 shares of company stock worth $3,819,191. Company insiders own 2.13% of the company’s stock.
Several research firms have issued reports on ASB. Zacks Investment Research raised Associated Banc from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Tuesday, May 1st. DA Davidson upped their price target on Associated Banc from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, April 20th. Morgan Stanley dropped their price target on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 31st. Sandler O’Neill raised Associated Banc from a “hold” rating to a “buy” rating in a report on Friday, April 20th. Finally, Robert W. Baird raised Associated Banc from a “neutral” rating to an “outperform” rating in a report on Friday, April 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $27.40.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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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