Matthew Braeger Sells 5,000 Shares of Associated Banc (NYSE:ASB) Stock

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

Associated Banc Stock Up 1.3%

Associated Banc stock opened at $29.00 on Friday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77. Associated Banc-Corp has a 52 week low of $22.48 and a 52 week high of $29.51. The business’s 50-day moving average price is $27.71 and its 200 day moving average price is $26.93. 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 (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.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 company earned $0.59 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.3%. Associated Banc’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial lifted their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Raymond James Financial reiterated an “outperform” rating and set a $31.00 price objective on shares of Associated Banc in a research report on Monday, April 27th. Weiss Ratings upgraded Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods lifted their price objective on 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, Robert W. Baird lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research 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 company’s stock. According to data from MarketBeat, Associated Banc currently has an average rating of “Moderate Buy” and an average price target of $30.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in Associated Banc by 27.7% during the 1st quarter. Parallel Advisors LLC now owns 3,305 shares of the bank’s stock worth $85,000 after purchasing an additional 717 shares in the last quarter. NewEdge Advisors LLC grew its stake in Associated Banc by 239.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,464 shares of the bank’s stock worth $115,000 after purchasing an additional 3,147 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Associated Banc by 27.6% during the 1st quarter. Glenmede Trust Co. NA now owns 13,625 shares of the bank’s stock worth $352,000 after purchasing an additional 2,949 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in Associated Banc by 24.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 13,206 shares of the bank’s stock worth $342,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in Associated Banc during the 1st quarter worth $59,000. 82.98% of the stock is 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.