Associated Banc (NYSE:ASB) Stock Price Passes Below 50-Day Moving Average – Here’s What Happened

Associated Banc-Corp (NYSE:ASB) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $26.02 and traded as low as $25.96. Associated Banc shares last traded at $26.03, with a volume of 1,998,821 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Raymond James Financial reissued an “outperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. UBS Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of Associated Banc in a research note on Tuesday, December 2nd. Truist Financial upped their price target on shares of Associated Banc from $27.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Barclays cut their price target on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Associated Banc currently has an average rating of “Hold” and a consensus price target of $28.50.

Associated Banc Trading Up 0.0%

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $4.32 billion, a PE ratio of 27.69, a P/E/G ratio of 0.72 and a beta of 0.79. The stock’s 50-day simple moving average is $26.02 and its 200-day simple moving average is $25.73.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. The firm had revenue of $390.71 million for the quarter, compared to analyst estimates of $377.94 million. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, sell-side analysts expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.7%. This is an increase from Associated Banc’s previous quarterly dividend of $0.23. Associated Banc’s dividend payout ratio is currently 102.13%.

Insider Buying and Selling

In other Associated Banc news, EVP Patrick Edward Ahern sold 30,489 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the transaction, the executive vice president owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This trade represents a 55.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 2,135 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the sale, the executive vice president owned 109,842 shares in the company, valued at approximately $2,900,927.22. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 35,951 shares of company stock valued at $925,756. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after purchasing an additional 5,531 shares in the last quarter. Millennium Management LLC grew its stake in shares of Associated Banc by 90.4% in the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after buying an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock valued at $11,184,000 after buying an additional 60,758 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Associated Banc by 41.3% during the first quarter. Intech Investment Management LLC now owns 111,733 shares of the bank’s stock valued at $2,517,000 after buying an additional 32,660 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

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.