Associated Banc (NYSE:ASB) EVP Sells $144,100.00 in Stock

Associated Banc-Corp (NYSE:ASB) EVP John Utz sold 5,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the transaction, the executive vice president owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This represents a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Associated Banc Trading Up 2.1%

Shares of ASB stock opened at $29.57 on Friday. Associated Banc-Corp has a 52-week low of $22.48 and a 52-week high of $29.63. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 1.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $27.78 and a 200-day moving average of $26.95.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share 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 business had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities research analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. Associated Banc’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On Associated Banc

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in 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 acquiring an additional 394 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in 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 last quarter. US Bancorp DE grew its holdings in Associated Banc by 0.5% during the 3rd quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock worth $2,074,000 after acquiring an additional 415 shares during the last quarter. LPL Financial LLC grew 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 last quarter. Finally, Tidal Investments LLC grew its holdings in Associated Banc by 2.0% during the 2nd 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 last quarter. Institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ASB shares. Wells Fargo & Company upped their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Piper Sandler upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Associated Banc in a report on Monday, April 27th. Truist Financial upped their target price on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Associated Banc has a consensus rating of “Moderate Buy” and an average price target of $30.30.

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.