Associated Banc (NYSE:ASB) EVP Patrick Edward Ahern Sells 1,309 Shares

Associated Banc-Corp (NYSE:ASB) EVP Patrick Ahern sold 1,309 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total transaction of $40,382.65. Following the completion of the sale, the executive vice president directly owned 43,743 shares of the company’s stock, valued at $1,349,471.55. The trade was a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Associated Banc Stock Up 0.6%

ASB stock traded up $0.20 during trading on Friday, hitting $31.11. 631,665 shares of the company’s stock traded hands, compared to its average volume of 2,141,800. The firm has a market capitalization of $5.87 billion, a P/E ratio of 10.89, a PEG ratio of 1.03 and a beta of 0.76. Associated Banc-Corp has a 1 year low of $23.86 and a 1 year high of $32.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $31.00 and a two-hundred day simple moving average of $28.61.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $454.54 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 quarter in the prior year, the business earned $0.65 earnings per share. Sell-side analysts anticipate that Associated Banc-Corp will post 2.94 EPS for the current year.

Associated Banc Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Associated Banc during the second quarter worth $715,927,000. Dimensional Fund Advisors LP increased its position in shares of Associated Banc by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank’s stock valued at $253,709,000 after acquiring an additional 170,080 shares during the period. State Street Corp increased its position in shares of Associated Banc by 1.7% in the 4th quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock valued at $224,404,000 after acquiring an additional 147,372 shares during the period. First Trust Advisors LP raised its stake in Associated Banc by 127.6% in the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock worth $154,416,000 after acquiring an additional 3,347,699 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Associated Banc by 2,560.2% in the 2nd quarter. California State Teachers Retirement System now owns 5,805,684 shares of the bank’s stock worth $188,680,000 after acquiring an additional 5,587,438 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ASB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Piper Sandler restated a “neutral” rating and issued a $34.00 price target on shares of Associated Banc in a report on Wednesday, August 26th. Wells Fargo & Company lifted their price objective on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Truist Financial boosted their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Finally, Barclays increased their target price on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

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.