Associated Banc-Corp (NYSE:ASB) EVP Sells $106,553.37 in Stock

Associated Banc-Corp (NYSE:ASB) EVP Nicole M. Kitowski sold 5,019 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total value of $106,553.37. Following the sale, the executive vice president now directly owns 37,993 shares in the company, valued at $806,591.39. The transaction was disclosed in a filing with the SEC, which is available at this link.

Associated Banc Stock Performance

Shares of ASB stock opened at $21.97 on Friday. The business has a 50 day simple moving average of $20.89 and a 200 day simple moving average of $19.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.28 and a beta of 0.99. Associated Banc-Corp has a 12-month low of $14.47 and a 12-month high of $22.32.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The company had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $325.00 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 4.01%. Associated Banc’s payout ratio is 88.89%.

Institutional Trading of Associated Banc

A number of institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new stake in Associated Banc during the fourth quarter worth approximately $892,000. Walleye Capital LLC bought a new position in Associated Banc during the third quarter valued at about $7,561,000. AQR Capital Management LLC grew its holdings in Associated Banc by 92.2% during the third quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock worth $24,524,000 after acquiring an additional 687,552 shares during the period. Deutsche Bank AG raised its position in Associated Banc by 7.7% in the third quarter. Deutsche Bank AG now owns 123,392 shares of the bank’s stock worth $2,111,000 after acquiring an additional 8,836 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Associated Banc by 2,344.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock valued at $12,134,000 after acquiring an additional 680,161 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ASB shares. Wells Fargo & Company increased their target price on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Raymond James increased their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Piper Sandler upped their target price on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Stephens reissued an “equal weight” rating and issued a $23.00 price target on shares of Associated Banc in a report on Friday, April 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.13.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.