Insider Selling: Associated Banc-Corp (NYSE:ASB) EVP Sells $55,450.00 in Stock

Associated Banc-Corp (NYSE:ASB) EVP John A. Utz sold 2,500 shares of Associated Banc stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $22.18, for a total value of $55,450.00. Following the completion of the transaction, the executive vice president now directly owns 100,922 shares in the company, valued at $2,238,449.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Associated Banc Stock Down 0.1 %

Associated Banc stock opened at $22.37 on Friday. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. The firm’s fifty day moving average price is $21.02 and its two-hundred day moving average price is $20.13. Associated Banc-Corp has a 1-year low of $14.47 and a 1-year high of $22.57. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 3.93%. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ASB shares. Stephens restated an “equal weight” rating and issued a $23.00 price target on shares of Associated Banc in a research report on Friday, April 26th. Barclays boosted their target price on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Raymond James lifted their price objective on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $23.00 target price on shares of Associated Banc in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.13.

Hedge Funds Weigh In On Associated Banc

Large investors have recently bought and sold shares of the stock. Steph & Co. raised its holdings in shares of Associated Banc by 470.2% in the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after purchasing an additional 964 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Associated Banc in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in shares of Associated Banc during the 3rd quarter worth approximately $29,000. Parallel Advisors LLC lifted its position in shares of Associated Banc by 64.0% during the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after buying an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Associated Banc by 183.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after buying an additional 1,850 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

About Associated Banc

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.