Associated Banc (NYSE:ASB) EVP Randall Erickson Sells 43,561 Shares

Associated Banc-Corp (NYSE:ASB) EVP Randall Erickson sold 43,561 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the transaction, the executive vice president owned 56,091 shares of the company’s stock, valued at $1,797,155.64. This represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Associated Banc Trading Up 0.3%

Shares of NYSE:ASB opened at $32.22 on Friday. Associated Banc-Corp has a fifty-two week low of $23.86 and a fifty-two week high of $32.44. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $6.08 billion, a PE ratio of 11.27, a P/E/G ratio of 1.09 and a beta of 0.77. The company’s 50-day moving average price is $30.46 and its 200 day moving average price is $28.29.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same quarter last year, the business earned $0.65 earnings per share. Sell-side analysts anticipate that Associated Banc-Corp will post 2.91 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.0%. Associated Banc’s payout ratio is presently 33.57%.

Analyst Upgrades and Downgrades

ASB has been the subject of several recent analyst reports. Piper Sandler increased their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Robert W. Baird lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays upped their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Raymond James Financial increased their target price on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods raised 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 note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.60.

Hedge Funds Weigh In On Associated Banc

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. grew its stake in shares of Associated Banc by 134.1% in the 1st quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock worth $11,208,000 after purchasing an additional 248,265 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Associated Banc by 159.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock valued at $6,356,000 after purchasing an additional 150,998 shares during the last quarter. Associated Banc Corp lifted its stake in Associated Banc by 7.5% during the fourth quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock valued at $67,783,000 after purchasing an additional 182,623 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Associated Banc by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after buying an additional 545,185 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Associated Banc by 1.1% during the fourth quarter. LSV Asset Management now owns 3,663,163 shares of the bank’s stock worth $94,363,000 after buying an additional 38,900 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.