Associated Banc (NYSE:ASB) EVP Matthew Braeger Sells 5,000 Shares

Associated Banc-Corp (NYSE:ASB) EVP Matthew Braeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president owned 11,777 shares in the company, valued at $331,758.09. This represents a 29.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Associated Banc Stock Up 0.9%

Shares of Associated Banc stock opened at $28.64 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. Associated Banc-Corp has a 52-week low of $22.48 and a 52-week high of $29.51. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 1.64 and a beta of 0.77. The company’s 50 day moving average price is $27.65 and its 200-day moving average price is $26.90.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. During the same quarter last year, the business earned $0.59 earnings per share. Equities research analysts forecast that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.4%. Associated Banc’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ASB shares. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Zacks Research cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings upgraded shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, February 17th. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Piper Sandler boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.30.

Institutional Trading of Associated Banc

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Associated Banc by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank’s stock worth $25,312,000 after purchasing an additional 194,307 shares during the last quarter. Heartland Advisors Inc. raised its position in shares of Associated Banc by 7.2% in the 3rd quarter. Heartland Advisors Inc. now owns 877,828 shares of the bank’s stock worth $22,569,000 after purchasing an additional 59,184 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Associated Banc by 50.6% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 125,433 shares of the bank’s stock worth $3,225,000 after purchasing an additional 42,133 shares during the last quarter. First Trust Advisors LP raised its position in shares of Associated Banc by 679.4% in the 3rd quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock worth $57,171,000 after purchasing an additional 1,938,393 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Associated Banc by 3.0% in the 4th 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 during the last quarter. 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.