Associated Banc (NYSE:ASB) EVP Sells $52,680.00 in Stock

by · The Markets Daily

Associated Banc-Corp (NYSE:ASB – Get Free Report) EVP Matthew Braeger sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares in the company, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Associated Banc Price Performance

Shares of ASB opened at $26.28 on Friday. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50 day moving average price is $25.59 and its two-hundred day moving average price is $23.67. The firm has a market cap of $4.36 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.84.

Associated Banc (NYSE:ASB – Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The firm had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc’s dividend payout ratio is presently 119.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ASB. Barclays upped their target price on Associated Banc from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Royal Bank Of Canada upped their target price on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Piper Sandler upped their target price on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company upped their target price on Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Truist Financial upped their target price on Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.78.

View Our Latest Stock Report on Associated Banc

Institutional Investors Weigh In On Associated Banc

Several institutional investors have recently bought and sold shares of ASB. Comerica Bank grew its holdings in Associated Banc by 3.1% during the fourth quarter. Comerica Bank now owns 47,607 shares of the bank’s stock worth $1,138,000 after buying an additional 1,415 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Associated Banc by 12.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,039 shares of the bank’s stock valued at $2,200,000 after purchasing an additional 10,077 shares during the period. Nuveen Asset Management LLC grew its stake in Associated Banc by 129.4% in the 4th quarter. Nuveen Asset Management LLC now owns 990,500 shares of the bank’s stock valued at $23,673,000 after purchasing an additional 558,721 shares during the period. NorthRock Partners LLC bought a new position in Associated Banc in the 4th quarter valued at $238,000. Finally, Nomura Holdings Inc. bought a new position in Associated Banc in the 4th quarter valued at $509,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

(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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