Associated Banc-Corp (NYSE:ASB) EVP Nicole M. Kitowski Sells 5,019 Shares

Associated Banc-Corp (NYSE:ASB) EVP Nicole M. Kitowski sold 5,019 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total value of $106,553.37. Following the transaction, the executive vice president now directly owns 37,993 shares in the company, valued at approximately $806,591.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Associated Banc Price Performance

Shares of NYSE:ASB traded up $0.40 during trading on Wednesday, reaching $21.47. 446,211 shares of the company’s stock traded hands, compared to its average volume of 1,443,390. Associated Banc-Corp has a fifty-two week low of $14.47 and a fifty-two week high of $22.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.23 billion, a PE ratio of 21.28, a P/E/G ratio of 1.28 and a beta of 1.00. The company has a 50-day simple moving average of $20.82 and a 200-day simple moving average of $19.90.

Associated Banc (NYSE:ASB) last posted its earnings results on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The firm had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. During the same period last year, the firm earned $0.66 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, analysts predict that Associated Banc-Corp will post 2.11 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently modified their holdings of the business. Steph & Co. lifted its stake in Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after buying an additional 964 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in Associated Banc in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new position in Associated Banc in the 3rd quarter valued at about $29,000. Parallel Advisors LLC lifted its stake in Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Associated Banc by 183.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock valued at $61,000 after buying an additional 1,850 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.