Associated Banc (NYSE:ASB) EVP Sells $40,382.65 in Stock

Associated Banc-Corp (NYSE:ASB) EVP Patrick Ahern sold 1,309 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total transaction of $40,382.65. Following the completion of the sale, the executive vice president directly owned 43,743 shares of the company’s stock, valued at $1,349,471.55. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Associated Banc Stock Up 0.0%

Shares of NYSE:ASB opened at $31.08 on Monday. The stock’s 50-day moving average price is $31.00 and its 200-day moving average price is $28.63. Associated Banc-Corp has a 12-month low of $23.86 and a 12-month high of $32.46. The stock has a market capitalization of $5.87 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last released its quarterly earnings data 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 the consensus estimate of $438.01 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.94 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s payout ratio is presently 33.57%.

Institutional Investors Weigh In On Associated Banc

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Associated Banc in the second quarter worth $715,927,000. California State Teachers Retirement System increased its position in Associated Banc by 2,560.2% during the 2nd quarter. California State Teachers Retirement System now owns 5,805,684 shares of the bank’s stock valued at $188,680,000 after purchasing an additional 5,587,438 shares during the period. First Trust Advisors LP increased its position in Associated Banc by 127.6% during the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after purchasing an additional 3,347,699 shares during the period. Norges Bank bought a new position in Associated Banc in the 4th quarter worth $54,660,000. Finally, Pzena Investment Management LLC bought a new position in Associated Banc in the 2nd quarter worth $61,240,000. 82.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ASB has been the subject of a number of analyst reports. Barclays increased their price objective on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Raymond James Financial upped their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Wells Fargo & Company raised their price target on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, Piper Sandler restated a “neutral” rating and issued a $34.00 price objective on shares of Associated Banc in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Associated Banc presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

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.