Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP John A. Utz sold 2,500 shares of the business's stock in a transaction that occurred on Monday, May 6th. The stock was 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 in the company, valued at $2,238,449.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Associated Banc Stock Up 0.0 %
Shares of NYSE:ASB opened at $22.16 on Wednesday. The company 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 12 month low of $14.47 and a 12 month high of $22.48. 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 company has a 50-day moving average price of $20.95 and a 200 day moving average price of $20.10.
Associated Banc (NYSE:ASB - Get Free Report) last posted 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 business had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The company's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. As a group, equities research analysts predict that Associated Banc-Corp will post 2.11 earnings per share for the current year.
Associated Banc Announces Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, May 31st. Associated Banc's dividend payout ratio (DPR) is 88.89%.
Institutional Investors Weigh In On Associated Banc
Several hedge funds and other institutional investors have recently made changes to their positions in ASB. Vanguard Group Inc. grew its holdings in Associated Banc by 1.2% during the 4th 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 boosted its position in shares of Associated Banc by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank's stock valued at $231,776,000 after buying an additional 229,552 shares during the period. LSV Asset Management grew its stake in shares of Associated Banc by 43.3% during 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 during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Associated Banc by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,744,918 shares of the bank's stock worth $46,966,000 after buying an additional 21,981 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Associated Banc by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,457 shares of the bank's stock worth $48,223,000 after acquiring an additional 40,111 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on ASB shares. Wells Fargo & Company lifted their price objective on shares of Associated Banc from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 10th. 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. Raymond James raised their price objective on Associated Banc from $21.00 to $25.00 and gave the company an "outperform" rating in a research report on Monday, January 29th. Barclays boosted their target price on Associated Banc from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday, April 26th. Finally, Piper Sandler raised their price target on Associated Banc from $21.50 to $23.00 and gave the company a "neutral" rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $23.13.
Read Our Latest Stock Analysis on ASB
About Associated Banc
(
Get Free Report)
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.
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