Associated Banc (NYSE:ASB) EVP Nicole Kitowski Sells 7,663 Shares

Associated Banc-Corp (NYSE:ASB) EVP Nicole Kitowski sold 7,663 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the sale, the executive vice president directly owned 45,327 shares of the company’s stock, valued at $1,401,057.57. This represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Associated Banc Stock Performance

ASB stock opened at $30.68 on Thursday. The business’s fifty day simple moving average is $29.64 and its two-hundred day simple moving average is $27.91. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.15 and a beta of 0.76. Associated Banc-Corp has a twelve month low of $23.63 and a twelve month high of $31.83.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $450.44 million during the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same quarter last year, the business posted $0.65 EPS. Analysts predict that Associated Banc-Corp will post 2.9 earnings per share for the current year.

Associated Banc Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on ASB. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Truist Financial boosted their price target on shares of Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday, July 10th. Robert W. Baird increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Zacks Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.00.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC grew its position in shares of Associated Banc by 90.4% in the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after buying an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock valued at $11,184,000 after acquiring an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Associated Banc during the second quarter valued at approximately $328,000. Hedge funds and other 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.