Associated Banc (NYSE:ASB) EVP Gregory Warsek Sells 16,300 Shares

Associated Banc-Corp (NYSE:ASB) EVP Gregory Warsek sold 16,300 shares of Associated Banc stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total value of $521,763.00. Following the completion of the transaction, the executive vice president directly owned 13,809 shares in the company, valued at $442,026.09. This represents a 54.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Associated Banc Stock Performance

Shares of ASB stock opened at $32.22 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $6.08 billion, a PE ratio of 11.27, a P/E/G ratio of 1.09 and a beta of 0.77. The company’s fifty day simple moving average is $30.46 and its 200-day simple moving average is $28.29. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.44.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS 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 firm had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities research analysts anticipate that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ASB shares. Piper Sandler raised their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Robert W. Baird raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods upped their target price on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Wells Fargo & Company increased their price target on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Associated Banc presently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

Institutional Investors Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASB. IAG Wealth Partners LLC lifted its position in Associated Banc by 4,250.0% in the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after purchasing an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Associated Banc during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC increased its position in shares of Associated Banc by 345.5% during 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 bought a new stake in shares of Associated Banc in the 3rd quarter worth $51,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Associated Banc in the 4th quarter worth $56,000. Institutional investors own 82.98% of the company’s stock.

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.