Associated Banc (NYSE:ASB) Trading Down 7.6%

Associated Banc-Corp (NYSE:ASB – Get Rating) dropped 7.6% during trading on Friday . The company traded as low as $18.03 and last traded at $18.06. Approximately 1,527,546 shares were traded during trading, a decline of 13% from the average daily volume of 1,753,701 shares. The stock had previously closed at $19.54.

Analyst Ratings Changes

ASB has been the topic of a number of research analyst reports. UBS Group initiated coverage on Associated Banc in a research report on Wednesday. They set a “neutral” rating and a $22.00 price target on the stock. StockNews.com began coverage on Associated Banc in a research report on Thursday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Associated Banc has an average rating of “Hold” and a consensus target price of $23.50.

Associated Banc Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $2.68 billion, a P/E ratio of 7.57, a P/E/G ratio of 0.97 and a beta of 1.01. The stock has a fifty day moving average of $22.61 and a 200-day moving average of $22.48.

Associated Banc (NYSE:ASB – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $452.94 million during the quarter, compared to the consensus estimate of $347.92 million. Associated Banc had a return on equity of 9.70% and a net margin of 25.65%. During the same period last year, the company earned $0.49 earnings per share. On average, research analysts anticipate that Associated Banc-Corp will post 2.47 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were paid a $0.21 dividend. The ex-dividend date was Tuesday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.72%. Associated Banc’s dividend payout ratio is 35.74%.

Insider Buying and Selling at Associated Banc

In related news, CEO Andrew J. Harmening purchased 4,850 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $20.57 per share, for a total transaction of $99,764.50. Following the completion of the purchase, the chief executive officer now directly owns 287,394 shares in the company, valued at $5,911,694.58. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Lith Karen Van sold 4,889 shares of Associated Banc stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $23.93, for a total transaction of $116,993.77. Following the completion of the transaction, the director now directly owns 58,677 shares in the company, valued at approximately $1,404,140.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew J. Harmening bought 4,850 shares of Associated Banc stock in a transaction dated Thursday, March 9th. The shares were acquired at an average price of $20.57 per share, with a total value of $99,764.50. Following the completion of the purchase, the chief executive officer now directly owns 287,394 shares in the company, valued at approximately $5,911,694.58. The disclosure for this purchase can be found here. Corporate insiders own 3.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Truist Financial Corp boosted its stake in shares of Associated Banc by 258.3% during the 4th quarter. Truist Financial Corp now owns 38,285 shares of the bank’s stock worth $884,000 after acquiring an additional 27,600 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of Associated Banc during the 4th quarter worth approximately $47,000. Alliancebernstein L.P. lifted its holdings in Associated Banc by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 2,800,625 shares of the bank’s stock worth $64,666,000 after purchasing an additional 141,801 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Associated Banc by 94.7% during the 4th quarter. Harbour Investments Inc. now owns 20,203 shares of the bank’s stock worth $466,000 after purchasing an additional 9,828 shares during the last quarter. Finally, CI Private Wealth LLC acquired a new stake in Associated Banc during the 4th quarter worth approximately $406,000. 78.95% of the stock is currently owned by institutional investors.

Associated Banc Company Profile

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Associated Banc-Corp. is a holding company, which engages in banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.