Associated Banc (NYSE:ASB) Director Eileen Kamerick Sells 6,600 Shares

Associated Banc-Corp (NYSE:ASB) Director Eileen Kamerick sold 6,600 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the completion of the sale, the director directly owned 49,264 shares in the company, valued at approximately $1,380,377.28. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Associated Banc Stock Performance

Associated Banc stock opened at $28.55 on Friday. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $29.51. The stock has a fifty day moving average price of $27.09 and a two-hundred day moving average price of $26.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $4.74 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.29 and a beta of 0.81.

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

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.24 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.4%. Associated Banc’s payout ratio is presently 34.66%.

Associated Banc announced that its Board of Directors has authorized a share buyback program on Tuesday, January 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Associated Banc by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after buying an additional 394 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Associated Banc by 46.8% during the third 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 period. US Bancorp DE grew its stake in Associated Banc by 0.5% during the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after acquiring an additional 415 shares in the last quarter. LPL Financial LLC increased its holdings in Associated Banc by 2.3% during the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock worth $491,000 after acquiring an additional 426 shares during the period. Finally, Tidal Investments LLC lifted its stake in Associated Banc by 2.0% in the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ASB shares. Wall Street Zen upgraded Associated Banc from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Piper Sandler increased their target price on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Weiss Ratings upgraded Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average 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.