Associated Banc (NYSE:ASB) EVP Sells $140,850.00 in Stock

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

Associated Banc Stock Up 2.1%

NYSE:ASB opened at $29.57 on Friday. The firm has a market cap of $5.58 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.67 and a beta of 0.77. 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 fifty-two week low of $22.48 and a fifty-two week high of $29.63. The firm has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $26.95.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. During the same period last year, the business earned $0.59 EPS. Analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 1st. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Analysts Set New Price Targets

A number of analysts have weighed in on ASB shares. Wells Fargo & Company raised their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods raised 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. Weiss Ratings raised shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, February 17th. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Piper Sandler raised their price target 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 equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.30.

Institutional Trading of Associated Banc

A number of institutional investors have recently made changes to their positions in ASB. First Trust Advisors LP boosted its holdings in shares of Associated Banc by 127.6% during the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after acquiring an additional 3,347,699 shares during the last quarter. Norges Bank purchased a new stake in shares of Associated Banc during the 4th quarter valued at about $54,660,000. Goldman Sachs Group Inc. boosted its holdings in shares of Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Associated Banc by 4,883.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock worth $35,625,000 after buying an additional 1,357,862 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of Associated Banc in the fourth quarter worth approximately $27,819,000. 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.