Associated Banc (NYSE:ASB) EVP Sells $1,395,694.44 in Stock

Associated Banc-Corp (NYSE:ASB) EVP Randall Erickson sold 43,561 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total value of $1,395,694.44. Following the transaction, the executive vice president owned 56,091 shares of the company’s stock, valued at $1,797,155.64. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Associated Banc Trading Up 0.2%

Shares of ASB traded up $0.06 during trading hours on Thursday, reaching $32.19. The stock had a trading volume of 222,743 shares, compared to its average volume of 2,198,602. The company has a market cap of $6.08 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.08 and a beta of 0.77. 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 50-day moving average of $30.37 and a 200 day moving average of $28.25. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.44.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the prior year, the business earned $0.65 EPS. On average, sell-side analysts expect that Associated Banc-Corp will post 2.91 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is currently 33.57%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in shares of Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after acquiring an additional 394 shares during the period. LPL Financial LLC boosted its stake in shares of Associated Banc by 2.3% during the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after buying an additional 426 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Associated Banc by 2.0% in the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after purchasing an additional 549 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Associated Banc by 1.8% during the 4th quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after acquiring an additional 619 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Associated Banc by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock worth $1,018,000 after acquiring an additional 700 shares during the period. Institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

ASB has been the topic of a number of recent research reports. 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. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays upped their target price on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Robert W. Baird increased their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

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.