Associated Banc (NYSE:ASB) EVP Nicole Kitowski Sells 7,663 Shares

Associated Banc-Corp (NYSE:ASB) EVP Nicole Kitowski sold 7,663 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total transaction of $236,863.33. Following the completion of the transaction, the executive vice president directly owned 45,327 shares in the company, valued at $1,401,057.57. This represents a 14.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Associated Banc Trading Down 0.4%

Shares of Associated Banc stock traded down $0.12 on Wednesday, hitting $30.94. 181,962 shares of the company traded hands, compared to its average volume of 2,258,126. Associated Banc-Corp has a 52 week low of $23.63 and a 52 week high of $31.83. The company has a market cap of $5.84 billion, a PE ratio of 10.83, a PEG ratio of 1.13 and a beta of 0.76. The stock’s 50 day moving average price is $29.59 and its 200-day moving average price is $27.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $450.44 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the prior year, the business earned $0.65 EPS. Equities research analysts predict that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s dividend payout ratio is presently 33.57%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASB. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial boosted their target price on shares of Associated Banc from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Robert W. Baird increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Barclays lifted their price objective 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. Finally, Piper Sandler upped their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Hedge Funds Weigh In On Associated Banc

A number of institutional investors have recently bought and sold shares of ASB. IAG Wealth Partners LLC boosted its holdings in 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 purchasing an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Associated Banc in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 1,047 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of Associated Banc in the third quarter valued at about $51,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Associated Banc during the fourth quarter worth approximately $56,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

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.