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

Associated Banc-Corp (NYSE:ASB) EVP John Utz sold 5,000 shares of Associated Banc stock in a transaction on Wednesday, June 10th. The shares were 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 directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Associated Banc Stock Up 2.1%

NYSE ASB opened at $29.57 on Friday. The stock has a fifty day moving average of $27.78 and a 200-day moving average of $26.95. The stock has a market capitalization of $5.58 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 1.67 and a beta of 0.77. Associated Banc-Corp has a 52 week low of $22.48 and a 52 week high of $29.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period last year, the firm earned $0.59 EPS. On average, equities research analysts forecast that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. Associated Banc’s dividend payout ratio (DPR) is 33.33%.

Institutional Trading of Associated Banc

Institutional investors and hedge funds have recently made changes to their positions in the business. IAG Wealth Partners LLC raised its position in shares of Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,190 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after acquiring an additional 408 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in shares of 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 last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Associated Banc in the 3rd quarter valued at $51,000. Institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ASB shares. Zacks Research cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Truist Financial lifted their target price on Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Piper Sandler upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Raymond James Financial reiterated an “outperform” rating and set a $31.00 target price on shares of Associated Banc in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Associated Banc presently has an average rating of “Moderate Buy” and an average price target of $30.30.

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.