Associated Banc (NYSE:ASB) EVP Dennis Deloye Sells 14,299 Shares

Associated Banc-Corp (NYSE:ASB) EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the sale, the executive vice president directly owned 21,385 shares of the company’s stock, valued at $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Associated Banc Stock Performance

Shares of ASB opened at $28.09 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. Associated Banc-Corp has a one year low of $22.48 and a one year high of $29.51. The firm has a market capitalization of $4.66 billion, a P/E ratio of 9.75, a PEG ratio of 1.64 and a beta of 0.79. The business has a fifty day moving average of $27.06 and a 200 day moving average of $26.71.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The company had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.4%. Associated Banc’s payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial upped their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company upped their price objective on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Robert W. Baird upped their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.30.

Hedge Funds Weigh In On Associated Banc

Hedge funds have recently modified their holdings of the stock. IAG Wealth Partners LLC lifted its holdings in shares of Associated Banc by 4,250.0% in the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after buying an additional 1,190 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after buying an additional 408 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Associated Banc during the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 1,047 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Associated Banc during the 3rd quarter valued at approximately $51,000. Hedge funds and other 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.