Key Points
- Director sale: Director Eileen Kamerick sold 6,600 shares on February 19 for about $184,932, reducing her stake by 11.81% to 49,264 shares (valued at roughly $1.38M).
- Quarterly results beat: Associated Banc reported Q4 EPS of $0.80 versus $0.69 expected and revenue of $393.5M versus $382.1M, showing stronger-than-anticipated performance.
- Shareholder returns: The bank declared a $0.24 quarterly dividend (3.4% yield) and authorized a $100 million buyback program (up to ~2.2% of shares outstanding).
Associated Banc-Corp (NYSE:ASB - Get Free Report) Director Eileen Kamerick sold 6,600 shares of the business's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $28.02, for a total value of $184,932.00. Following the transaction, the director directly owned 49,264 shares of the company's stock, valued at $1,380,377.28. The trade was 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 Stock Performance
Associated Banc stock opened at $28.55 on Friday. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $29.51. The firm's fifty day moving average price is $27.09 and its 200-day moving average price is $26.16. The stock has a market cap of $4.74 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90.
Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. The firm had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, equities research analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.
Associated Banc Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.24 per share. 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 (DPR) is currently 34.66%.
Associated Banc declared that its board has approved a stock buyback plan on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
ASB has been the topic of several analyst reports. Royal Bank Of Canada lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday, January 23rd. UBS Group restated a "buy" rating and set a $28.00 price target on shares of Associated Banc in a research report on Tuesday, December 2nd. Truist Financial lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, January 26th. Weiss Ratings raised Associated Banc from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of Associated Banc from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $29.20.
View Our Latest Stock Analysis on Associated Banc
Hedge Funds Weigh In On Associated Banc
Institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its stake in Associated Banc by 29.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,501 shares of the bank's stock valued at $399,000 after purchasing an additional 3,560 shares in the last quarter. XTX Topco Ltd purchased a new position in Associated Banc in the 4th quarter worth approximately $1,717,000. Voloridge Investment Management LLC lifted its position in Associated Banc by 327.4% in the 4th quarter. Voloridge Investment Management LLC now owns 807,808 shares of the bank's stock valued at $20,809,000 after acquiring an additional 618,789 shares in the last quarter. SummitTX Capital L.P. purchased a new position in shares of Associated Banc in the fourth quarter worth $387,000. Finally, Tudor Investment Corp ET AL bought a new position in Associated Banc during the 4th quarter valued at about $2,705,000. 82.98% of the stock is currently owned by institutional investors.
About Associated Banc
(
Get Free Report)
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.
Further Reading
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