Associated Banc-Corp (ASB) to Issue Quarterly Dividend of $0.23 on March 17th

Associated Banc-Corp (NYSE:ASB) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.23 per share by the bank on Monday, March 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Monday, March 3rd.

Associated Banc has raised its dividend by an average of 5.4% per year over the last three years and has increased its dividend every year for the last 14 years. Associated Banc has a dividend payout ratio of 33.6% indicating that 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 Price Performance

NYSE ASB opened at $24.80 on Thursday. The company has a 50 day simple moving average of $25.12 and a 200-day simple moving average of $23.49. 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 capitalization of $3.75 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. Associated Banc has a 52-week low of $19.40 and a 52-week high of $28.18.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Associated Banc will post 2.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ASB. Royal Bank of Canada increased their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Piper Sandler increased their price objective on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Stephens restated an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a report on Friday, January 24th. Barclays increased their price target on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased 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, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Insider Transactions at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.45% of the stock is currently owned by corporate insiders.

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.