Associated Banc (NYSE:ASB) EVP Gregory Warsek Sells 16,300 Shares of Stock

Key Points

• EVP Gregory Warsek sold 16,300 Associated Banc shares at an average price of $32.01, generating $521,763. After the sale, his holdings fell 54.14% to 13,809 shares.
• Associated Banc reported quarterly EPS of $0.73, slightly beating estimates, while revenue of $454.54 million exceeded forecasts. The bank also declared a quarterly dividend of $0.24 per share, yielding about 3.0% annually.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $31.60, while institutional investors own approximately 82.98% of the company.

Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP Gregory Warsek sold 16,300 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the transaction, the executive vice president owned 13,809 shares of the company's stock, valued at $442,026.09. This represents a 54.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Associated Banc Price Performance

Shares of NYSE:ASB traded up $0.15 during trading on Thursday, reaching $32.28. The stock had a trading volume of 397,838 shares, compared to its average volume of 2,199,942. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. Associated Banc-Corp has a 1-year low of $23.86 and a 1-year high of $32.44. The stock has a market cap of $6.10 billion, a PE ratio of 11.28, a PEG ratio of 1.08 and a beta of 0.77. The business has a fifty day moving average price of $30.37 and a 200-day moving average price of $28.25.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. During the same quarter last year, the firm posted $0.65 EPS. On average, equities analysts forecast that Associated Banc-Corp will post 2.91 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc's dividend payout ratio (DPR) is currently 33.57%.

Wall Street Analyst Weigh In

A number of analysts have commented on ASB shares. Keefe, Bruyette & Woods increased their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Raymond James Financial upped their price target on Associated Banc from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Associated Banc in a report on Wednesday, June 24th. Piper Sandler lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, Truist Financial boosted their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.60.

Institutional Trading of Associated Banc

Hedge funds and other institutional investors have recently made changes to their positions in the company. IAG Wealth Partners LLC grew its position in Associated Banc by 4,250.0% in the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank's stock worth $31,000 after acquiring an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Associated Banc in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC lifted its stake in shares of Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank's stock valued at $33,000 after purchasing an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc during the 3rd quarter worth $51,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Associated Banc during the 4th quarter worth $56,000. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Company Profile

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.

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