John A. Utz Sells 19,044 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Associated Banc Price Performance

ASB opened at $23.56 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a 52-week low of $16.19 and a 52-week high of $24.31. The company has a 50 day moving average of $21.99 and a two-hundred day moving average of $21.57. The company has a market cap of $3.56 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.86 and a beta of 0.93.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, analysts expect that Associated Banc-Corp will post 2.08 earnings per share for the current year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.23 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.90%. Associated Banc’s dividend payout ratio is 73.33%.

Wall Street Analysts Forecast Growth

ASB has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a report on Tuesday, July 30th. Royal Bank of Canada boosted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays boosted their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and a consensus target price of $23.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. LSV Asset Management boosted its stake in shares of Associated Banc by 43.3% in the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after purchasing an additional 1,224,216 shares during the period. Millennium Management LLC boosted its stake in shares of Associated Banc by 291.3% in the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after purchasing an additional 1,163,807 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Associated Banc by 12.0% in the second quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock valued at $24,309,000 after purchasing an additional 123,271 shares during the period. Interval Partners LP boosted its stake in shares of Associated Banc by 27.6% in the second quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock valued at $9,368,000 after purchasing an additional 95,928 shares during the period. Finally, M&G PLC boosted its stake in shares of Associated Banc by 2.9% in the third quarter. M&G PLC now owns 423,903 shares of the bank’s stock valued at $9,326,000 after purchasing an additional 12,142 shares during the period. 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.