Associated Banc-Corp (NYSE:ASB) EVP John A. Utz Sells 2,500 Shares

Associated Banc-Corp (NYSE:ASB) EVP John A. Utz sold 2,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares in the company, valued at approximately $2,238,449.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Associated Banc Trading Up 1.1 %

Shares of NYSE ASB opened at $22.40 on Thursday. The stock’s 50 day moving average price is $20.99 and its two-hundred day moving average price is $20.12. Associated Banc-Corp has a 52-week low of $14.47 and a 52-week high of $22.48. The stock has a market capitalization of $3.38 billion, a P/E ratio of 22.63, a PEG ratio of 1.30 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. Associated Banc’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, analysts anticipate that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, May 31st. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Hedge Funds Weigh In On Associated Banc

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Associated Banc by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after purchasing an additional 184,813 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Associated Banc by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank’s stock worth $231,776,000 after buying an additional 229,552 shares in the last quarter. LSV Asset Management increased its holdings in shares of Associated Banc by 43.3% in the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after buying an additional 1,224,216 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Associated Banc by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,744,918 shares of the bank’s stock valued at $46,966,000 after acquiring an additional 21,981 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Associated Banc by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,457 shares of the bank’s stock worth $48,223,000 after purchasing an additional 40,111 shares during the period. 82.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Stephens restated an “equal weight” rating and set a $23.00 price objective on shares of Associated Banc in a research note on Friday, April 26th. Raymond James boosted their price objective on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Barclays boosted their price target on Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and an average target price of $23.13.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.