Associated Banc (NYSE:ASB) EVP Derek Meyer Sells 10,000 Shares of Stock

Associated Banc-Corp (NYSE:ASB) EVP Derek Meyer sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the sale, the executive vice president owned 61,662 shares of the company’s stock, valued at $1,895,489.88. The trade was a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Associated Banc Price Performance

Shares of ASB opened at $30.77 on Friday. The business has a 50-day simple moving average of $29.70 and a two-hundred day simple moving average of $27.94. Associated Banc-Corp has a 12-month low of $23.63 and a 12-month high of $31.83. The stock has a market cap of $5.80 billion, a PE ratio of 10.76, a PEG ratio of 1.05 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $450.44 million for the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the previous year, the business posted $0.65 earnings per share. Analysts anticipate that Associated Banc-Corp will post 2.9 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s payout ratio is 33.57%.

Institutional Investors Weigh In On Associated Banc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its holdings in Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after buying an additional 1,190 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Associated Banc in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc during the 3rd quarter valued at $51,000. Finally, Global Retirement Partners LLC bought a new position in shares of Associated Banc in the fourth quarter worth $56,000. 82.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ASB has been the topic of several research analyst reports. Raymond James Financial upped their target price on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Barclays boosted their price target on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.