John A. Utz Sells 3,000 Shares of Associated Banc Corp (NYSE:ASB) Stock

Associated Banc Corp (NYSE:ASB) EVP John A. Utz sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $20.04, for a total value of $60,120.00. Following the completion of the transaction, the executive vice president now owns 59,348 shares of the company’s stock, valued at $1,189,333.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of ASB stock traded down $0.04 on Thursday, reaching $20.31. 825,900 shares of the stock were exchanged, compared to its average volume of 1,127,983. The stock has a market cap of $3.19 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $19.86 and a two-hundred day moving average of $21.29. Associated Banc Corp has a 1-year low of $18.52 and a 1-year high of $27.30.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $309.46 million during the quarter, compared to the consensus estimate of $315.84 million. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. During the same period in the prior year, the firm posted $0.53 EPS. On average, equities research analysts predict that Associated Banc Corp will post 1.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.35%. Associated Banc’s payout ratio is 33.50%.

ASB has been the subject of several analyst reports. Royal Bank of Canada set a $23.00 price target on Associated Banc and gave the company a “hold” rating in a report on Friday, July 26th. SunTrust Banks set a $22.00 price target on Associated Banc and gave the company a “hold” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Associated Banc currently has an average rating of “Hold” and an average target price of $24.50.

Several hedge funds have recently added to or reduced their stakes in ASB. Geode Capital Management LLC increased its holdings in shares of Associated Banc by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,628,897 shares of the bank’s stock worth $32,235,000 after buying an additional 47,343 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Associated Banc by 2.9% during the 1st quarter. Texas Permanent School Fund now owns 111,584 shares of the bank’s stock worth $2,382,000 after buying an additional 3,098 shares during the last quarter. SVA Plumb Wealth Management LLC increased its holdings in shares of Associated Banc by 3.6% during the 1st quarter. SVA Plumb Wealth Management LLC now owns 58,285 shares of the bank’s stock worth $1,244,000 after buying an additional 2,000 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of Associated Banc by 0.6% during the 1st quarter. Mason Street Advisors LLC now owns 87,391 shares of the bank’s stock worth $1,866,000 after buying an additional 554 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Associated Banc by 34.3% during the 1st quarter. LSV Asset Management now owns 1,841,614 shares of the bank’s stock worth $39,318,000 after buying an additional 470,500 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

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. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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