Associated Banc (NYSE:ASB) Director Sells $65,216.25 in Stock

Associated Banc-Corp (NYSE:ASB) Director John Williams sold 2,325 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total transaction of $65,216.25. Following the sale, the director owned 70,959 shares in the company, valued at approximately $1,990,399.95. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Associated Banc Stock Up 2.4%

Shares of Associated Banc stock opened at $29.40 on Friday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $29.52. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.32 and a beta of 0.81. The company has a 50-day moving average of $26.69 and a 200 day moving average of $25.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The business had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.24 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.3%. Associated Banc’s dividend payout ratio is presently 34.66%.

Associated Banc declared that its board has authorized a share buyback plan on Tuesday, January 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Associated Banc

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in Associated Banc by 0.3% in the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after purchasing an additional 394 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after buying an additional 408 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Associated Banc by 0.5% during the 3rd quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after buying an additional 415 shares during the period. Tidal Investments LLC raised its position in Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after acquiring an additional 549 shares during the period. Finally, Rothschild Investment LLC boosted its stake in shares of Associated Banc by 3.9% during the 3rd quarter. Rothschild Investment LLC now owns 19,282 shares of the bank’s stock worth $496,000 after acquiring an additional 717 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ASB shares. UBS Group restated a “buy” rating and set a $28.00 price target on shares of Associated Banc in a report on Tuesday, December 2nd. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Sunday, February 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Barclays decreased their target price on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.20.

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.