David L. Stein Sells 29,536 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Associated Banc Trading Down 0.3 %

Shares of NYSE:ASB opened at $26.78 on Friday. Associated Banc-Corp has a 52 week low of $16.59 and a 52 week high of $28.17. The company’s 50 day moving average is $22.31 and its two-hundred day moving average is $21.77. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.05 billion, a PE ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 0.91.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period last year, the firm posted $0.53 EPS. Equities analysts predict that Associated Banc-Corp will post 2.12 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.44%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio is currently 73.33%.

Institutional Trading of Associated Banc

Several hedge funds have recently made changes to their positions in ASB. Bessemer Group Inc. lifted its stake 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 during the period. Quest Partners LLC purchased a new stake in shares of Associated Banc during the second quarter worth about $38,000. Farther Finance Advisors LLC grew its holdings in Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares during the period. Meeder Asset Management Inc. purchased a new stake in Associated Banc in the first quarter valued at approximately $74,000. Finally, Neo Ivy Capital Management purchased a new stake in Associated Banc in the second quarter valued at approximately $93,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ASB. Baird R W downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Stephens reaffirmed an “equal weight” rating and set a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price target 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. Finally, Robert W. Baird reduced their target price on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.89.

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.