Associated Banc (NYSE:ASB) EVP Nicole Kitowski Sells 7,663 Shares

Key Points

• Executive sale: Associated Banc EVP Nicole Kitowski sold 7,663 shares at an average price of $30.91, totaling $236,863.33. Her remaining ownership fell 14.46% to 45,327 shares.
• Quarterly performance: The bank reported quarterly EPS of $0.73, narrowly exceeding analyst expectations of $0.72, while revenue of $450.44 million also surpassed estimates.
• Dividend and outlook: Associated Banc declared a quarterly dividend of $0.24, equivalent to an annualized yield of about 3.1%. Analysts maintain a “Moderate Buy” consensus with an average price target of $31.00.

Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP Nicole Kitowski sold 7,663 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total transaction of $236,863.33. Following the sale, the executive vice president owned 45,327 shares in the company, valued at $1,401,057.57. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Associated Banc Price Performance

ASB stock traded down $0.12 during trading on Wednesday, reaching $30.94. The company's stock had a trading volume of 181,962 shares, compared to its average volume of 2,258,126. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company's fifty day moving average is $29.59 and its 200-day moving average is $27.88. The company has a market capitalization of $5.84 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.76. Associated Banc-Corp has a 1 year low of $23.63 and a 1 year high of $31.83.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $450.44 million for the quarter, compared to the consensus estimate of $438.01 million. During the same period in the previous year, the business earned $0.65 earnings per share. On average, research analysts expect 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. Investors of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. Associated Banc's payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ASB shares. Zacks Research cut shares of Associated Banc from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Piper Sandler raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Wall Street Zen downgraded shares of Associated Banc from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $30.00 to $31.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Finally, Truist Financial boosted their target price on Associated Banc from $30.00 to $32.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $31.00.

Hedge Funds Weigh In On Associated Banc

Several institutional investors have recently bought and sold shares of ASB. IAG Wealth Partners LLC lifted its stake 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 purchasing an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Associated Banc in the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its stake in shares of Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank's stock worth $33,000 after acquiring an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Associated Banc during the 3rd quarter valued at $51,000. Finally, Global Retirement Partners LLC purchased a new position in Associated Banc during the 4th quarter valued at $56,000. Institutional investors 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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