Associated Banc (NYSE:ASB) EVP Matthew Braeger Sells 2,000 Shares

Key Points

• Matthew Braeger, EVP of Associated Banc, sold 2,000 shares at an average price of $26.34, reducing his ownership by 13.03%.
• The company reported earnings of $0.65 EPS for the last quarter, exceeding estimates and reflecting a return on equity of 8.86%.
• Associated Banc's quarterly dividend of $0.23 will be paid on September 15th, with a 3.5% dividend yield.

Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP Matthew Braeger sold 2,000 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares of the company's stock, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Associated Banc Price Performance

Shares of NYSE ASB traded up $0.27 during trading on Wednesday, reaching $26.45. The company had a trading volume of 333,927 shares, compared to its average volume of 1,514,775. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The stock has a market capitalization of $4.39 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 1.02 and a beta of 0.84. The stock has a 50-day moving average price of $25.56 and a two-hundred day moving average price of $23.62. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The firm had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. During the same period last year, the company earned $0.52 EPS. As a group, sell-side analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc's payout ratio is currently 119.48%.

Institutional Trading of Associated Banc

A number of hedge funds have recently modified their holdings of ASB. Hantz Financial Services Inc. grew its stake in shares of Associated Banc by 2,033.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank's stock valued at $29,000 after purchasing an additional 1,139 shares during the period. 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 period. Bayforest Capital Ltd acquired a new position in shares of Associated Banc in the 2nd quarter valued at $34,000. Versant Capital Management Inc lifted its stake in shares of Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock valued at $36,000 after purchasing an additional 1,280 shares during the period. Finally, Quarry LP raised its stake in Associated Banc by 77.7% during the 1st quarter. Quarry LP now owns 1,907 shares of the bank's stock worth $43,000 after buying an additional 834 shares during the period. Institutional investors own 82.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ASB shares. Keefe, Bruyette & Woods raised their target price on Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Barclays raised their target price on Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Robert W. Baird raised their target price on Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company lifted their price target on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold 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 $27.78.

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.

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