Associated Banc (NYSE:ASB) EVP John Utz Sells 5,000 Shares of Stock

Associated Banc-Corp (NYSE:ASB) EVP John Utz sold 5,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the sale, the executive vice president owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Associated Banc Stock Performance

ASB stock opened at $29.00 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The business’s fifty day simple moving average is $27.71 and its two-hundred day simple moving average is $26.93. Associated Banc-Corp has a twelve month low of $22.48 and a twelve month high of $29.51. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.65 and a beta of 0.77.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The business had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same quarter last year, the firm posted $0.59 earnings per share. Analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. Associated Banc’s dividend payout ratio (DPR) is presently 33.33%.

Hedge Funds Weigh In On Associated Banc

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Associated Banc by 0.3% during the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after buying an additional 394 shares during the period. Smartleaf Asset Management LLC boosted its position in Associated Banc by 46.8% during the third 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. US Bancorp DE boosted its position in Associated Banc by 0.5% during the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after purchasing an additional 415 shares in the last quarter. LPL Financial LLC boosted its position in Associated Banc by 2.3% during the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after purchasing an additional 426 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Associated Banc by 2.0% during the second 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. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASB. Wells Fargo & Company raised their price target on Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $30.00 to $33.00 in a research note on Tuesday, April 7th. Piper Sandler raised their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Truist Financial raised their price target on Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods raised their price target on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.30.

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.