Associated Banc (NYSE:ASB) EVP Dennis Deloye Sells 14,299 Shares

Associated Banc-Corp (NYSE:ASB) EVP Dennis Deloye sold 14,299 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total transaction of $404,089.74. Following the transaction, the executive vice president directly owned 21,385 shares in the company, valued at $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Associated Banc Trading Down 0.7%

Shares of ASB traded down $0.20 on Wednesday, hitting $28.11. 480,341 shares of the stock traded hands, compared to its average volume of 2,278,967. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $4.66 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.62 and a beta of 0.79. The stock’s 50 day moving average is $26.99 and its two-hundred day moving average is $26.70. Associated Banc-Corp has a 1 year low of $22.48 and a 1 year high of $29.51.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The firm had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, sell-side analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.4%. Associated Banc’s dividend payout ratio is 33.33%.

Institutional Investors Weigh In On Associated Banc

Several large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA increased its position in shares of Associated Banc by 27.6% in the first quarter. Glenmede Trust Co. NA now owns 13,625 shares of the bank’s stock worth $352,000 after acquiring an additional 2,949 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Associated Banc by 24.2% in the first quarter. Segall Bryant & Hamill LLC now owns 13,206 shares of the bank’s stock worth $342,000 after acquiring an additional 2,577 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Associated Banc in the first quarter worth $59,000. Edgestream Partners L.P. increased its position in shares of Associated Banc by 4.6% in the first quarter. Edgestream Partners L.P. now owns 323,401 shares of the bank’s stock worth $8,363,000 after acquiring an additional 14,183 shares in the last quarter. Finally, Amundi acquired a new stake in shares of Associated Banc in the first quarter worth $218,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ASB shares. Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods upped their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $31.00 price target on shares of Associated Banc in a research report on Monday, April 27th. Truist Financial increased their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Finally, Piper Sandler increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.30.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.