Associated Banc (NYSE:ASB) EVP Sells $56,385.35 in Stock

Associated Banc-Corp (NYSE:ASB) EVP John Utz sold 2,135 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the transaction, the executive vice president directly owned 109,842 shares in the company, valued at $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Associated Banc Trading Up 3.8%

ASB stock traded up $1.01 during midday trading on Wednesday, hitting $27.17. 1,025,118 shares of the company’s stock were exchanged, compared to its average volume of 1,540,387. The stock has a market capitalization of $4.51 billion, a PE ratio of 28.87, a P/E/G ratio of 0.77 and a beta of 0.81. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $27.46. The business has a 50-day simple moving average of $25.49 and a two-hundred day simple moving average of $25.19. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. The firm had revenue of $390.71 million during the quarter, compared to analysts’ expectations of $377.94 million. During the same quarter last year, the company posted $0.56 EPS. On average, sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.24 per share. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.5%. Associated Banc’s dividend payout ratio (DPR) is 102.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ASB shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Associated Banc in a research report on Tuesday, December 2nd. Barclays reduced their price target on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. UBS Group reiterated a “buy” rating and set a $28.00 target price on shares of Associated Banc in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $30.00 target price (up from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Associated Banc presently has an average rating of “Hold” and a consensus price target of $28.20.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC purchased a new position in Associated Banc in the 1st quarter valued at approximately $311,000. Hsbc Holdings PLC raised its stake in shares of Associated Banc by 25.7% during the 1st quarter. Hsbc Holdings PLC now owns 14,146 shares of the bank’s stock worth $318,000 after buying an additional 2,892 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Associated Banc in the 2nd quarter worth about $422,000. Ieq Capital LLC acquired a new stake in Associated Banc in the 1st quarter valued at about $744,000. Finally, Meritage Portfolio Management purchased a new position in Associated Banc during the 2nd quarter valued at about $469,000. 82.98% of the stock is currently owned by hedge funds and other 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.