Nicole Kitowski Sells 7,663 Shares of Associated Banc (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) EVP Nicole Kitowski sold 7,663 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the transaction, the executive vice president owned 45,327 shares of the company’s stock, valued at $1,401,057.57. This trade represents a 14.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Associated Banc Stock Performance

Shares of NYSE:ASB opened at $30.77 on Friday. The business’s fifty day moving average price is $29.70 and its two-hundred day moving average price is $27.94. Associated Banc-Corp has a fifty-two week low of $23.63 and a fifty-two week high of $31.83. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $450.44 million during the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period in the prior year, the company posted $0.65 earnings per share. As a group, analysts predict that Associated Banc-Corp will post 2.9 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Associated Banc’s dividend payout ratio (DPR) is 33.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on ASB. Raymond James Financial lifted their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Barclays raised their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Truist Financial boosted their target price on Associated Banc from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Finally, Robert W. Baird increased their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. IAG Wealth Partners LLC boosted its position in Associated Banc by 4,250.0% in the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after buying an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc during the fourth quarter worth $33,000. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Associated Banc during the third quarter worth $51,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Associated Banc during the fourth quarter valued at $56,000. Institutional investors own 82.98% of the company’s stock.

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.