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

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 shares were sold at an average price of $22.18, for a total value of $55,450.00. Following the completion of the transaction, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at approximately $2,238,449.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Associated Banc Trading Up 0.0 %

Shares of ASB stock opened at $22.16 on Wednesday. The stock has a 50-day moving average of $20.95 and a 200-day moving average of $20.10. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.30 and a beta of 0.99. Associated Banc-Corp has a 1-year low of $14.47 and a 1-year high of $22.48.

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

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 3.97%. Associated Banc’s payout ratio is 88.89%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ASB shares. Barclays boosted their price objective on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th. Piper Sandler upped their price target on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Raymond James raised their price objective on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and an average price target of $23.13.

Institutional Trading of Associated Banc

A number of large investors have recently bought and sold shares of the business. AlphaMark Advisors LLC boosted its position in shares of Associated Banc by 3.6% during the 4th quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock valued at $307,000 after purchasing an additional 494 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Associated Banc by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 42,963 shares of the bank’s stock worth $735,000 after buying an additional 587 shares in the last quarter. KLCM Advisors Inc. grew its position in shares of Associated Banc by 1.4% during the 4th quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank’s stock worth $964,000 after buying an additional 611 shares during the period. Retirement Systems of Alabama increased its stake in shares of Associated Banc by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after acquiring an additional 651 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Associated Banc by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock valued at $785,000 after acquiring an additional 800 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

About Associated Banc

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.