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 business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $30.85, for a total value of $40,382.65. Following the sale, the executive vice president owned 43,743 shares of the company’s stock, valued at approximately $1,349,471.55. This represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Associated Banc Stock Performance

Shares of ASB stock opened at $31.08 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $31.00 and a two-hundred day simple moving average of $28.63. Associated Banc-Corp has a 12 month low of $23.86 and a 12 month high of $32.46. The firm has a market capitalization of $5.87 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.76.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same period last year, the company earned $0.65 earnings per share. Analysts forecast that Associated Banc-Corp will post 2.94 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business 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 of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s payout ratio is presently 33.57%.

Institutional Trading of Associated Banc

Hedge funds have recently added to or reduced their stakes in the stock. IAG Wealth Partners LLC raised its stake in shares of Associated Banc by 4,250.0% in the first 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 period. Eurizon Capital SGR S.p.A. bought a new stake in Associated Banc in the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC lifted its holdings in Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Associated Banc during the third quarter valued at about $51,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Associated Banc in the fourth quarter worth about $56,000. Institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ASB shares. Raymond James Financial raised their price objective on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Truist Financial increased their target price on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 price objective on shares of Associated Banc in a research report on Wednesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Finally, Barclays lifted their target price on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock 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.