Associated Banc- (ASB) Declares $0.21 Dividend

Associated Banc- said on February 1, 2023 that its board of directors declared a regular quarterly dividend of $0.21 per share ($0.84 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.21 per share.

At the current share price of $23.80 / share, the stock's dividend yield is 3.53%. Looking back five years and taking a sample every week, the average dividend yield has been 3.60%, the lowest has been 2.11%, and the highest has been 6.64%. The standard deviation of yields is 0.92 (n=236).

The current dividend yield is 0.08 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 7.68% Upside

As of February 9, 2023, the average one-year price target for Associated Banc- is $25.63. The forecasts range from a low of $23.23 to a high of $29.40. The average price target represents an increase of 7.68% from its latest reported closing price of $23.80.

The projected annual revenue for Associated Banc- is $1,426MM, an increase of 18.17%. The projected annual EPS is $2.50, an increase of 5.35%.

What is the Fund Sentiment?

There are 665 funds or institutions reporting positions in Associated Banc-. This is an increase of 3 owner(s) or 0.45% in the last quarter. Average portfolio weight of all funds dedicated to ASB is 0.22%, an increase of 18.01%. Total shares owned by institutions decreased in the last three months by 1.26% to 139,927K shares. The put/call ratio of ASB is 0.02, indicating a bullish outlook.

What are large shareholders doing?

IJH - iShares Core S&P Mid-Cap ETF holds 4,392K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 4,290K shares, representing an increase of 2.32%. The firm increased its portfolio allocation in ASB by 13.14% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,268K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 4,207K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in ASB by 16.28% over the last quarter.

DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 3,681K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 3,638K shares, representing an increase of 1.17%. The firm increased its portfolio allocation in ASB by 22.05% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,626K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 3,598K shares, representing an increase of 0.76%. The firm increased its portfolio allocation in ASB by 15.55% over the last quarter.

Goldman Sachs Group holds 3,427K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 2,678K shares, representing an increase of 21.86%. The firm increased its portfolio allocation in ASB by 43.98% over the last quarter.

Associated Banc- Background Information
(This description is provided by the company.)

Associated Banc-Corp is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 220 banking locations serving more than 120 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC.

This story originally appeared on Fintel.