Associated Banc-Corp Plans Quarterly Dividend of $0.22 (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Tuesday, September 3rd will be paid a dividend of 0.22 per share by the bank on Monday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Associated Banc has raised its dividend by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Associated Banc has a dividend payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Associated Banc to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 37.3%.

Associated Banc Price Performance

Shares of Associated Banc stock traded down $0.39 on Thursday, hitting $22.59. The company’s stock had a trading volume of 139,350 shares, compared to its average volume of 1,351,379. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. Associated Banc has a 1 year low of $15.16 and a 1 year high of $24.21. The firm has a fifty day moving average price of $21.30 and a 200-day moving average price of $21.13. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.95.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $321.75 million during the quarter, compared to analyst estimates of $330.69 million. During the same quarter in the previous year, the business earned $0.56 EPS. Associated Banc’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Associated Banc will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ASB has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Stephens restated an “equal weight” rating and set a $24.00 target price on shares of Associated Banc in a report on Tuesday. Wells Fargo & Company boosted their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Associated Banc has a consensus rating of “Hold” and a consensus target price of $23.67.

Insider Buying and Selling

In other news, insider Paul Gregory Schmidt 23,673 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.18, for a total transaction of $55,450.00. Following the completion of the transaction, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at approximately $2,238,449.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Gregory Schmidt 23,673 shares of Associated Banc stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. 1.45% of the stock is currently owned by corporate insiders.

Associated Banc 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 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.