Associated Banc (NYSE:ASB) Sees Large Volume Increase – Here’s Why

Associated Banc-Corp (NYSE:ASB) shares saw an uptick in trading volume on Friday . 2,245,272 shares were traded during trading, an increase of 65% from the previous session’s volume of 1,363,390 shares.The stock last traded at $26.48 and had previously closed at $26.67.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ASB shares. Robert W. Baird cut their target price on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Piper Sandler lifted their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Barclays lifted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.89.

Associated Banc Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. The business has a fifty day simple moving average of $22.82 and a 200 day simple moving average of $21.97.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, research analysts expect that Associated Banc-Corp will post 2.12 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio is presently 73.33%.

Insider Transactions at Associated Banc

In related news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,641 shares of company stock valued at $1,481,496. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASB. Bessemer Group Inc. increased its stake in shares of Associated Banc by 285.2% in the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after purchasing an additional 907 shares during the last quarter. Quest Partners LLC bought a new position in Associated Banc in the second quarter valued at about $38,000. Point72 DIFC Ltd acquired a new position in Associated Banc during the third quarter worth about $39,000. Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after acquiring an additional 1,438 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Associated Banc in the second quarter worth about $93,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

About Associated Banc

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.