Associated Banc-Corp (NYSE:ASB) Declares $0.23 Quarterly Dividend

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.23 per share by the bank on Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 3.73%.

Associated Banc has raised its dividend by an average of 5.4% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Associated Banc has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Associated Banc to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 39.8%.

Associated Banc Stock Down 1.2 %

ASB stock opened at $24.66 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $3.73 billion, a PE ratio of 20.55, a P/E/G ratio of 2.07 and a beta of 0.94. Associated Banc has a 12 month low of $19.40 and a 12 month high of $28.18. The firm has a 50 day simple moving average of $25.16 and a 200 day simple moving average of $23.48.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. Equities research analysts forecast that Associated Banc will post 2.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ASB shares. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Barclays upped their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Piper Sandler lifted their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Stephens restated an “equal weight” rating and issued a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.78.

Insiders Place Their Bets

In related news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.45% of the company’s stock.

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. 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.