Eileen A. Kamerick Sells 7,000 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) Director Eileen A. Kamerick sold 7,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares of the company’s stock, valued at $1,223,021.45. The trade was a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Associated Banc Trading Down 0.5 %

Shares of Associated Banc stock opened at $23.37 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. Associated Banc-Corp has a 52-week low of $19.76 and a 52-week high of $28.18. The company’s 50-day simple moving average is $24.66 and its 200-day simple moving average is $23.98.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. As a group, equities research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 116.46%.

Analysts Set New Price Targets

Several research firms have commented on ASB. Barclays lifted their price target on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Piper Sandler lifted their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.00.

Hedge Funds Weigh In On Associated Banc

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its stake in shares of Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank’s stock valued at $26,000 after purchasing an additional 651 shares during the period. Covestor Ltd lifted its position in shares of Associated Banc by 221.0% during the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,032 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock worth $42,000 after acquiring an additional 579 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc in the 3rd quarter worth approximately $39,000. Finally, Crews Bank & Trust purchased a new position in Associated Banc in the 4th quarter valued at approximately $56,000. 82.98% of the stock is owned by institutional investors and hedge funds.

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.