Associated Banc-Corp (ASB) to Issue Quarterly Dividend of $0.23 on December 16th

Associated Banc-Corp (NYSE:ASB) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.23 per share by the bank on Monday, December 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, December 2nd. This is an increase from Associated Banc’s previous quarterly dividend of $0.22.

Associated Banc has raised its dividend payment by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 13 years. Associated Banc has a dividend payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Associated Banc to earn $2.25 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 40.9%.

Associated Banc Trading Down 0.1 %

Shares of ASB opened at $26.69 on Friday. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. Associated Banc has a 1-year low of $17.51 and a 1-year high of $28.18. The company has a 50-day moving average of $23.81 and a 200 day moving average of $22.26.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The firm had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, research analysts expect that Associated Banc will post 2.13 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ASB shares. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays increased their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.89.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction that occurred 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 approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at $1,108,254.72. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,641 shares of company stock worth $1,435,936 over the last three months. Corporate 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.