Key Points
- Associated Banc EVP John Utz sold 5,000 shares on June 10 at an average price of $28.82, bringing in about $144,100. After the sale, he still held 118,156 shares valued at roughly $3.4 million.
- The company recently reported better-than-expected quarterly earnings of $0.70 per share, beating estimates by a penny, while revenue also came in slightly above consensus at $387.21 million.
- Associated Banc announced a quarterly dividend of $0.24 per share, which works out to an annualized yield of 3.3%. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $30.30.
Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP John Utz sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the sale, the executive vice president directly owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Associated Banc Price Performance
Shares of ASB stock opened at $29.00 on Friday. Associated Banc-Corp has a 1-year low of $22.48 and a 1-year high of $29.51. The stock's 50-day moving average is $27.71 and its 200 day moving average is $26.93. The company has a market cap of $5.47 billion, a P/E ratio of 10.07, a PEG ratio of 1.65 and a beta of 0.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90.
Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The company had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same quarter last year, the company earned $0.59 earnings per share. Research analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.
Associated Banc Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. Associated Banc's dividend payout ratio (DPR) is presently 33.33%.
Institutional Investors Weigh In On Associated Banc
Several institutional investors have recently added to or reduced their stakes in ASB. First Trust Advisors LP lifted its holdings in shares of Associated Banc by 127.6% during the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank's stock worth $154,416,000 after purchasing an additional 3,347,699 shares during the period. Norges Bank acquired a new stake in shares of Associated Banc during the fourth quarter worth about $54,660,000. Goldman Sachs Group Inc. lifted its holdings in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock worth $61,927,000 after purchasing an additional 1,598,951 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Associated Banc by 4,883.7% during the third quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank's stock worth $35,625,000 after purchasing an additional 1,357,862 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Associated Banc during the fourth quarter worth about $27,819,000. Institutional investors and hedge funds own 82.98% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on ASB shares. Robert W. Baird raised their price target on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Weiss Ratings raised Associated Banc from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, February 17th. Stephens raised Associated Banc from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $30.00 to $29.00 in a report on Friday, March 27th. Truist Financial raised their price target on Associated Banc from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded Associated Banc from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.30.
View Our Latest Stock Report on Associated Banc
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.
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