Insider Selling: Associated Banc (NYSE:ASB) EVP Sells $307,400.00 in Stock

Associated Banc-Corp (NYSE:ASB) EVP Derek Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total value of $307,400.00. Following the sale, the executive vice president owned 61,662 shares in the company, valued at approximately $1,895,489.88. This trade represents a 13.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Associated Banc Stock Performance

NYSE ASB opened at $30.88 on Friday. The company has a market cap of $5.82 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day moving average price is $29.75 and its 200-day moving average price is $27.96. Associated Banc-Corp has a fifty-two week low of $23.63 and a fifty-two week high of $31.83.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $450.44 million during the quarter, compared to the consensus estimate of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period last year, the company earned $0.65 earnings per share. Sell-side analysts predict that Associated Banc-Corp will post 2.9 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is 33.57%.

Analysts Set New Price Targets

Several equities analysts recently commented on ASB shares. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Raymond James Financial boosted their target price on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Truist Financial upped their target price on Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Robert W. Baird increased their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Institutional Investors Weigh In On Associated Banc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASB. Associated Banc Corp raised its stake in shares of Associated Banc by 7.5% during the fourth quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock valued at $67,783,000 after acquiring an additional 182,623 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Associated Banc by 159.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock valued at $6,356,000 after purchasing an additional 150,998 shares during the period. Vanguard Group Inc. grew its stake in Associated Banc by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after purchasing an additional 545,185 shares in the last quarter. LSV Asset Management increased its holdings in Associated Banc by 1.1% during the 4th quarter. LSV Asset Management now owns 3,663,163 shares of the bank’s stock worth $94,363,000 after purchasing an additional 38,900 shares during the period. Finally, Easterly Investment Partners LLC purchased a new position in Associated Banc during the 4th quarter worth $1,185,000. Institutional investors own 82.98% of the company’s stock.

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.