Insider Selling: Associated Banc (NYSE:ASB) EVP Sells 14,731 Shares of Stock

Associated Banc-Corp (NYSE:ASB) EVP Patrick Edward Ahern sold 14,731 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total transaction of $427,640.93. Following the completion of the sale, the executive vice president owned 39,401 shares of the company’s stock, valued at approximately $1,143,811.03. The trade was a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Patrick Edward Ahern also recently made the following trade(s):

• On Thursday, December 4th, Patrick Edward Ahern sold 30,489 shares of Associated Banc stock. The stock was sold at an average price of $25.70, for a total value of $783,567.30.
• On Wednesday, December 3rd, Patrick Edward Ahern sold 3,327 shares of Associated Banc stock. The shares were sold at an average price of $25.79, for a total value of $85,803.33.

Associated Banc Trading Down 1.3%

ASB traded down $0.39 on Wednesday, hitting $28.53. 1,047,094 shares of the company were exchanged, compared to its average volume of 2,403,946. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day simple moving average of $26.82 and a two-hundred day simple moving average of $26.00. The stock has a market capitalization of $4.73 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.34 and a beta of 0.81. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $29.51.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Sell-side analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.4%. Associated Banc’s dividend payout ratio is currently 34.66%.

Associated Banc announced that its Board of Directors has approved a share buyback plan on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Associated Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in Associated Banc by 2,033.9% in the second quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Associated Banc in the 4th quarter worth $33,000. Smartleaf Asset Management LLC increased its holdings in shares of Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after buying an additional 408 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Associated Banc during the 3rd quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC raised its position 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 valued at $33,000 after buying an additional 1,047 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ASB shares. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Raymond James Financial restated an “outperform” rating and issued a $30.00 price objective (up from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Royal Bank Of Canada upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Finally, Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Sunday, February 1st. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.20.

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.