Key Points
- Insider sale: EVP Patrick Edward Ahern sold 1,309 Associated Banc shares for approximately $40,383, reducing his holdings by 2.91% to 43,743 shares.
- Financial performance: Associated Banc reported quarterly earnings of $0.73 per share, beating estimates by $0.01, while revenue of $454.54 million exceeded consensus expectations.
- Investor outlook: The company declared a quarterly dividend of $0.24 per share, representing a 3.1% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $32.00.
Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP Patrick Ahern sold 1,309 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total value of $40,382.65. Following the sale, the executive vice president owned 43,743 shares in the company, valued at approximately $1,349,471.55. This represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Associated Banc Stock Performance
NYSE:ASB opened at $31.08 on Friday. The business's fifty day moving average is $31.00 and its 200 day moving average is $28.63. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.04 and a beta of 0.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. Associated Banc-Corp has a 52-week low of $23.86 and a 52-week high of $32.46.
Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $454.54 million during the quarter, compared to the consensus estimate of $438.01 million. During the same quarter last year, the company earned $0.65 EPS. Research analysts predict that Associated Banc-Corp will post 2.94 EPS for the current year.
Associated Banc Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 3.1%. Associated Banc's payout ratio is currently 33.57%.
Analyst Ratings Changes
A number of research firms have recently commented on ASB. Wells Fargo & Company boosted their price target on shares of Associated Banc from $32.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Barclays upped their target price on Associated Banc from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Associated Banc in a research report on Wednesday, June 24th. Raymond James Financial raised their target price on shares of Associated Banc from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Finally, Piper Sandler reissued a "neutral" rating and issued a $34.00 price target on shares of Associated Banc in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.
Read Our Latest Research Report on Associated Banc
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank's stock valued at $2,198,000 after purchasing an additional 5,531 shares in the last quarter. Millennium Management LLC lifted its stake in Associated Banc by 90.4% in the first quarter. Millennium Management LLC now owns 287,890 shares of the bank's stock worth $6,486,000 after purchasing an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock valued at $61,927,000 after buying an additional 1,598,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank's stock valued at $11,184,000 after buying an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Associated Banc in the second quarter worth about $328,000. 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.
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