Patrick Edward Ahern Sells 1,309 Shares of Associated Banc (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) EVP Patrick Ahern sold 1,309 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total value of $40,382.65. Following the transaction, the executive vice president 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Associated Banc Stock Up 0.5%

Shares of NYSE:ASB opened at $31.08 on Friday. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.46. 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 company’s fifty day moving average is $31.00 and its 200-day moving average is $28.63. The company has a market capitalization of $5.87 billion, a PE ratio of 10.87, a P/E/G ratio of 1.05 and a beta of 0.76.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The business had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities research analysts predict that Associated Banc-Corp will post 2.94 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

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

Wall Street Analysts Forecast Growth

ASB has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Barclays boosted their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Raymond James Financial upped their price objective on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wells Fargo & Company lifted their target price on Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Finally, Truist Financial boosted their target price on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Institutional Trading of Associated Banc

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in Associated Banc by 134.1% in the first quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock valued at $11,208,000 after buying an additional 248,265 shares during the period. BlackRock Inc. acquired a new position in shares of Associated Banc during the 2nd quarter worth about $715,927,000. Y Intercept Hong Kong Ltd grew its position in shares of Associated Banc by 159.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock worth $6,356,000 after buying an additional 150,998 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Associated Banc in the 2nd quarter valued at about $2,048,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Associated Banc in the 2nd quarter valued at approximately $2,892,000. 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.