Associated Banc (NYSE:ASB) EVP Sells $144,100.00 in Stock

Associated Banc-Corp (NYSE:ASB) EVP John Utz sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total transaction of $144,100.00. Following the sale, the executive vice president directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Associated Banc Price Performance

Shares of ASB stock traded down $0.06 during trading hours on Thursday, reaching $28.56. The company had a trading volume of 366,875 shares, compared to its average volume of 2,225,605. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average of $27.65 and a 200-day moving average of $26.90. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.64 and a beta of 0.77. Associated Banc-Corp has a 12-month low of $22.48 and a 12-month high of $29.51.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The firm had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. During the same period in the prior year, the firm posted $0.59 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Trading of Associated Banc

A number of institutional investors have recently bought and sold shares of ASB. First Trust Advisors LP increased its holdings in Associated Banc by 127.6% during the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after acquiring an additional 3,347,699 shares in the last quarter. Norges Bank purchased a new stake in Associated Banc in the 4th quarter valued at approximately $54,660,000. Goldman Sachs Group Inc. lifted its stake in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Associated Banc by 4,883.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock valued at $35,625,000 after buying an additional 1,357,862 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Associated Banc in the 4th quarter valued at approximately $27,819,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ASB has been the topic of a number of analyst reports. Robert W. Baird raised their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $33.00 in a research report on Tuesday, April 7th. Wells Fargo & Company lifted their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Zacks Research cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Truist Financial lifted their target price on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.30.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.