Associated Banc (NYSE:ASB) Director Sells $184,932.00 in Stock

Associated Banc-Corp (NYSE:ASB) Director Eileen Kamerick sold 6,600 shares of Associated Banc stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $28.02, for a total value of $184,932.00. Following the sale, the director directly owned 49,264 shares of the company’s stock, valued at approximately $1,380,377.28. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Associated Banc Stock Performance

ASB stock traded up $0.20 during trading hours on Friday, hitting $28.54. 1,485,425 shares of the stock were exchanged, compared to its average volume of 2,410,166. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $29.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $4.74 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.30 and a beta of 0.81. The company has a 50-day simple moving average of $27.06 and a two-hundred day simple moving average of $26.14.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period last year, the firm earned $0.72 earnings per share. On average, analysts forecast that Associated Banc-Corp will post 2.43 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 Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. Associated Banc’s dividend payout ratio is currently 34.66%.

Associated Banc declared that its board has approved a share buyback program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on ASB shares. Piper Sandler raised their price target on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Raymond James Financial reissued 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. Barclays reduced their price target on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Associated Banc from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Truist Financial upped their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its holdings in shares of Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,139 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Associated Banc during the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Associated Banc in the third quarter valued at approximately $34,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.