Associated Banc (NYSE:ASB) EVP Sells $307,400.00 in Stock

Associated Banc-Corp (NYSE:ASB) EVP Derek Meyer sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total transaction of $307,400.00. Following the transaction, the executive vice president owned 61,662 shares of the company’s stock, valued at $1,895,489.88. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Associated Banc Price Performance

Shares of ASB stock traded down $0.08 on Thursday, reaching $30.64. 231,581 shares of the company were exchanged, compared to its average volume of 2,255,007. Associated Banc-Corp has a 1 year low of $23.63 and a 1 year high of $31.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The business has a 50-day moving average price of $29.64 and a 200 day moving average price of $27.91. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.15 and a beta of 0.76.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (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 company had revenue of $450.44 million for the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the previous year, the firm posted $0.65 EPS. Equities research analysts forecast that Associated Banc-Corp will post 2.9 earnings per share for the current fiscal 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. This represents a $0.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s dividend payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

ASB has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Barclays upped their price objective on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Raymond James Financial lifted their target price on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Zacks Research cut Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Investors Weigh In On Associated Banc

A number of large investors have recently modified their holdings of the company. IAG Wealth Partners LLC lifted its position in shares of Associated Banc by 4,250.0% during the 1st 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 last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Associated Banc in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC increased its holdings in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Associated Banc in the third quarter valued at $51,000. Finally, Global Retirement Partners LLC acquired a new stake in Associated Banc in the fourth quarter valued at $56,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

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.