Insider Selling: Associated Banc (NYSE:ASB) Director Sells $184,932.00 in Stock

Associated Banc-Corp (NYSE:ASB) Director Eileen Kamerick sold 6,600 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $28.02, for a total value of $184,932.00. Following the sale, the director owned 49,264 shares of the company’s stock, valued at $1,380,377.28. This trade represents a 11.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Associated Banc Price Performance

ASB opened at $28.55 on Monday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $29.51. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 1.31 and a beta of 0.80. The firm’s fifty day moving average price is $27.09 and its two-hundred day moving average price is $26.19.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The company had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. During the same period last year, the firm earned $0.72 earnings per share. As a group, analysts anticipate that Associated Banc-Corp will post 2.43 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 Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.4%. Associated Banc’s dividend payout ratio is currently 34.66%.

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

Hedge Funds Weigh In On Associated Banc

Several large investors have recently modified their holdings of ASB. Hantz Financial Services Inc. raised its position 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 purchasing an additional 1,139 shares during the period. Smartleaf Asset Management LLC grew its stake 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 buying an additional 408 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Associated Banc in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of Associated Banc during the third quarter worth $34,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ASB shares. Barclays reduced their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings raised shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, February 17th. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 23rd. Royal Bank Of Canada boosted their target price 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. Finally, Piper Sandler increased their target price on shares of Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.