Associated Banc-Corp (NYSE:ASB) EVP Sells $55,450.00 in Stock

Associated Banc-Corp (NYSE:ASB) EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $22.18, for a total transaction of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares of the company’s stock, valued at approximately $2,238,449.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Associated Banc Stock Up 1.4 %

ASB traded up $0.30 during mid-day trading on Tuesday, reaching $22.45. 330,994 shares of the stock were exchanged, compared to its average volume of 1,428,508. Associated Banc-Corp has a 1 year low of $14.47 and a 1 year high of $22.48. The company has a 50 day moving average price of $20.93 and a two-hundred day moving average price of $20.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $3.38 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99.

Associated Banc (NYSE:ASB) last released its earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. As a group, research analysts anticipate that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.92%. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Institutional Trading of Associated Banc

Large investors have recently modified their holdings of the business. Steph & Co. grew its stake in Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Associated Banc in the 4th quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in shares of Associated Banc during the 3rd quarter valued at about $29,000. Parallel Advisors LLC raised its holdings in shares of Associated Banc by 64.0% during the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Associated Banc by 183.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after acquiring an additional 1,850 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ASB. Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th. Raymond James increased their target price on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Piper Sandler lifted their price target on shares of Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Barclays upped their price target on Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Associated Banc has an average rating of “Hold” and a consensus price target of $23.13.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.