Associated Banc (NYSE:ASB) EVP Patrick Edward Ahern Sells 3,327 Shares

Associated Banc-Corp (NYSE:ASB) EVP Patrick Edward Ahern sold 3,327 shares of Associated Banc stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $25.79, for a total value of $85,803.33. Following the completion of the transaction, the executive vice president owned 41,188 shares in the company, valued at $1,062,238.52. This represents a 7.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Patrick Edward Ahern also recently made the following trade(s):

• On Thursday, September 11th, Patrick Edward Ahern sold 3,342 shares of Associated Banc stock. The stock was sold at an average price of $26.20, for a total value of $87,560.40.

Associated Banc Stock Up 0.4%

ASB stock traded up $0.10 during trading on Friday, reaching $26.13. 109,032 shares of the company traded hands, compared to its average volume of 1,532,041. The business has a 50 day simple moving average of $25.47 and a 200 day simple moving average of $25.11. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $27.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 0.95 and a beta of 0.81.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.66 by $0.07. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. The business had revenue of $390.71 million during the quarter, compared to analyst estimates of $377.94 million. During the same period in the prior year, the firm posted $0.56 earnings per share. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.7%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, December 1st. Associated Banc’s payout ratio is 102.13%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ASB shares. UBS Group reaffirmed a “buy” rating and set a $28.00 price target on shares of Associated Banc in a research report on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and set a $30.00 target price (up from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Associated Banc in a report on Wednesday, October 8th. Barclays dropped their price target on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Associated Banc in a report on Tuesday. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Associated Banc has a consensus rating of “Hold” and a consensus target price of $28.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. grew its position in Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after buying an additional 408 shares during the period. Quent Capital LLC acquired a new stake in shares of Associated Banc during the third quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after buying an additional 1,047 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Associated Banc in the 2nd quarter valued at about $34,000. 82.98% of the stock is 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.