Insider Selling: Associated Banc (NYSE:ASB) EVP Sells $404,089.74 in Stock

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

Associated Banc Price Performance

ASB stock opened at $27.83 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a 12 month low of $22.48 and a 12 month high of $29.51. The firm has a market cap of $4.62 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.61 and a beta of 0.79. The company’s 50-day moving average price is $27.19 and its two-hundred day moving average price is $26.74.

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

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, June 1st. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Hedge Funds Weigh In On Associated Banc

Institutional investors have recently added to or reduced their stakes in the stock. Jackson Creek Investment Advisors LLC bought a new stake in Associated Banc during the 3rd quarter worth approximately $1,769,000. JPMorgan Chase & Co. grew its holdings in Associated Banc by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank’s stock worth $25,312,000 after acquiring an additional 194,307 shares during the last quarter. Heartland Advisors Inc. grew its holdings in Associated Banc by 7.2% during the 3rd quarter. Heartland Advisors Inc. now owns 877,828 shares of the bank’s stock worth $22,569,000 after acquiring an additional 59,184 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Associated Banc during the 3rd quarter worth approximately $1,289,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Associated Banc by 50.6% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 125,433 shares of the bank’s stock worth $3,225,000 after acquiring an additional 42,133 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ASB shares. Zacks Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $30.00 to $29.00 in a report on Friday, March 27th. Barclays raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $33.00 in a report on Tuesday, April 7th. Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

About Associated Banc

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.