Lith Karen Van Sells 8,061 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $21.27 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc-Corp has a twelve month low of $15.16 and a twelve month high of $24.21. The business has a 50-day moving average price of $21.86 and a 200 day moving average price of $21.28. The firm has a market cap of $3.21 billion, a PE ratio of 21.49, a P/E/G ratio of 2.24 and a beta of 0.93.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $321.75 million during the quarter, compared to analyst estimates of $330.69 million. During the same quarter in the previous year, the business earned $0.56 EPS. Associated Banc’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts predict that Associated Banc-Corp will post 2.07 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 4.14%. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens reaffirmed an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research report on Tuesday, July 30th. Barclays decreased their price objective on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Finally, Robert W. Baird decreased their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Associated Banc has a consensus rating of “Hold” and a consensus target price of $23.67.

Institutional Investors Weigh In On Associated Banc

Large investors have recently bought and sold shares of the company. Steph & Co. grew its position 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 in the last quarter. Bessemer Group Inc. grew its position in shares of Associated Banc by 285.2% in the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after purchasing an additional 907 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Associated Banc in the fourth quarter valued at approximately $28,000. Quest Partners LLC purchased a new stake in shares of Associated Banc in the second quarter valued at approximately $38,000. Finally, Parallel Advisors LLC grew its position in shares of Associated Banc by 64.0% in the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after purchasing an additional 894 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other 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.