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 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 completion of the transaction, the executive vice president now owns 100,922 shares in the company, valued at $2,238,449.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Associated Banc Trading Up 1.4 %

Shares of NYSE ASB traded up $0.30 during trading hours on Tuesday, hitting $22.45. 330,994 shares of the company traded hands, compared to its average volume of 1,428,508. The company’s 50 day moving average price is $20.93 and its 200 day moving average price is $20.05. Associated Banc-Corp has a 12 month low of $14.47 and a 12 month high of $22.48. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The company had revenue of $322.84 million for the quarter, compared to analyst estimates of $325.00 million. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

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

Wall Street Analysts Forecast Growth

ASB has been the subject of several recent research reports. Barclays boosted their price target on Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Raymond James raised their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Wells Fargo & Company raised their price target on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Piper Sandler increased their target price on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Finally, Stephens reissued an “equal weight” rating and issued a $23.00 price target on shares of Associated Banc in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Associated Banc presently has an average rating of “Hold” and a consensus price target of $23.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new stake in Associated Banc during the 4th quarter valued at $892,000. Walleye Capital LLC purchased a new position in shares of Associated Banc in the third quarter worth $7,561,000. AQR Capital Management LLC lifted its stake in shares of Associated Banc by 92.2% during the third quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock worth $24,524,000 after buying an additional 687,552 shares during the period. Deutsche Bank AG grew its holdings in shares of Associated Banc by 7.7% during the third quarter. Deutsche Bank AG now owns 123,392 shares of the bank’s stock valued at $2,111,000 after buying an additional 8,836 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Associated Banc by 2,344.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock valued at $12,134,000 after acquiring an additional 680,161 shares during the period. 82.98% of the stock is currently owned by institutional investors.

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.