Associated Banc (NYSE:ASB) Director John Williams Sells 2,325 Shares of Stock

Associated Banc-Corp (NYSE:ASB) Director John Williams sold 2,325 shares of Associated Banc stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total value of $65,216.25. Following the completion of the sale, the director directly owned 70,959 shares in the company, valued at $1,990,399.95. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Associated Banc Stock Up 1.9%

Shares of ASB opened at $28.78 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $25.90. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $29.21. The company has a market capitalization of $4.78 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.30 and a beta of 0.81.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. During the same period last year, the company earned $0.72 EPS. As a group, equities analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc declared that its board has initiated a stock buyback program on Tuesday, January 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 2nd. Associated Banc’s payout ratio is 34.66%.

Hedge Funds Weigh In On Associated Banc

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in shares of Associated Banc by 2,033.9% in the second quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,139 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Associated Banc during the 2nd quarter worth approximately $34,000. Finally, Quent Capital LLC purchased a new stake in shares of Associated Banc in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ASB. UBS Group reiterated a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a research note on Tuesday, December 2nd. Truist Financial lifted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Royal Bank Of Canada upped their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Finally, Keefe, Bruyette & Woods boosted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.20.

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.