Dennis Deloye Sells 14,299 Shares of Associated Banc (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the transaction, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. This represents a 40.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Associated Banc Stock Down 0.9%

ASB opened at $27.83 on Friday. The company has a market cap of $4.62 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.62 and a beta of 0.79. The business’s 50-day moving average price is $27.12 and its 200-day moving average price is $26.73. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a 12 month low of $22.48 and a 12 month high of $29.51.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The company had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, equities analysts expect that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, June 1st. Associated Banc’s payout ratio is presently 33.33%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. IAG Wealth Partners LLC increased its position in Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Associated Banc during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after acquiring an additional 408 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Associated Banc by 345.5% during the 2nd 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 period. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc during the 3rd quarter worth approximately $51,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Robert W. Baird boosted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Piper Sandler boosted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Raymond James Financial restated an “outperform” rating and set a $31.00 price target on shares of Associated Banc in a report on Monday, April 27th. Finally, Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $33.00 in a report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.30.

About Associated Banc

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.