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

Associated Banc-Corp (NYSE:ASB) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Monday, June 3rd will be given a dividend of 0.22 per share by the bank on Monday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, June 3rd.

Associated Banc has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend every year for the last 12 years. Associated Banc has a dividend payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $2.34 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 37.6%.

Associated Banc Stock Performance

Shares of ASB opened at $21.57 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86. Associated Banc has a one year low of $14.47 and a one year high of $22.16. The firm has a market capitalization of $3.25 billion, a P/E ratio of 21.79, a PEG ratio of 1.25 and a beta of 0.99. The business has a fifty day moving average of $20.84 and a 200 day moving average of $19.91.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. Associated Banc’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Associated Banc will post 2.11 EPS for the current year.

Insider Transactions at Associated Banc

In other news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the sale, the director now directly owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the sale, the director now directly owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the sale, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,729 shares of company stock valued at $561,450. 1.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ASB shares. Piper Sandler boosted their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price objective on shares of Associated Banc in a research report on Tuesday, April 9th. Stephens restated an “equal weight” rating and issued a $23.00 price objective on shares of Associated Banc in a research report on Friday, April 26th. Finally, Raymond James boosted their price objective on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.13.

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.