Associated Banc (NYSE:ASB) EVP Sells $56,385.35 in Stock

Associated Banc-Corp (NYSE:ASB) EVP John Utz sold 2,135 shares of Associated Banc stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total transaction of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares in the company, valued at $2,900,927.22. This represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Associated Banc Stock Performance

Associated Banc stock traded up $1.01 during trading on Wednesday, reaching $27.17. The company had a trading volume of 1,025,118 shares, compared to its average volume of 1,540,387. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The firm’s 50-day simple moving average is $25.49 and its 200 day simple moving average is $25.19. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $27.46.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $390.71 million for the quarter, compared to the consensus estimate of $377.94 million. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.During the same quarter last year, the company earned $0.56 earnings per share. Sell-side analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, December 1st. Associated Banc’s dividend payout ratio is currently 102.13%.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its position in Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. Quent Capital LLC acquired a new position in Associated Banc in the third quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its position in Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in Associated Banc in the second quarter valued at $34,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

ASB has been the subject of several research analyst reports. Raymond James Financial reissued an “outperform” rating and set a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Barclays dropped their price target on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Royal Bank Of Canada restated a “sector perform” rating on shares of Associated Banc in a report on Tuesday, December 2nd. UBS Group reaffirmed a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Associated Banc in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.20.

Associated Banc Company Profile

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.