Associated Banc (NYSE:ASB) EVP Sells $404,089.74 in Stock

Key Points

• Associated Banc EVP Dennis Deloye sold 14,299 shares on May 26 at an average price of $28.26, totaling about $404,090. After the sale, he still held 21,385 shares, reflecting a 40.07% reduction in his ownership.
• The bank’s latest quarterly results beat expectations, with EPS of $0.70 versus the $0.69 consensus and revenue of $387.21 million, while analysts now expect full-year EPS of 2.92.
• Associated Banc also returned cash to shareholders through a $0.24 quarterly dividend, implying a 3.4% annual yield, and has an active $100 million stock repurchase program authorized by its board.

Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP Dennis Deloye sold 14,299 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the transaction, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. This trade represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Associated Banc Stock Performance

Shares of Associated Banc stock traded down $0.20 on Wednesday, reaching $28.11. 480,341 shares of the stock were exchanged, compared to its average volume of 2,278,967. Associated Banc-Corp has a 1-year low of $22.48 and a 1-year high of $29.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average price of $26.99 and a two-hundred day moving average price of $26.70. The firm has a market capitalization of $4.66 billion, a PE ratio of 9.75, a PEG ratio of 1.62 and a beta of 0.79.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The business had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, research analysts anticipate that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc declared that its Board of Directors has authorized a stock repurchase program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.4%. Associated Banc's dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ASB shares. Stephens upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $30.00 to $29.00 in a research report on Friday, March 27th. Weiss Ratings upgraded shares of Associated Banc from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of Associated Banc from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Raymond James Financial restated an "outperform" rating and set a $31.00 target price on shares of Associated Banc in a research report on Monday, April 27th. Finally, Zacks Research lowered shares of Associated Banc from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Associated Banc currently has a consensus rating of "Moderate Buy" and an average target price of $30.30.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Associated Banc by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank's stock valued at $477,543,000 after buying an additional 545,185 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Associated Banc by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank's stock valued at $253,709,000 after buying an additional 170,080 shares during the period. State Street Corp lifted its stake in shares of Associated Banc by 1.7% during the fourth quarter. State Street Corp now owns 8,711,346 shares of the bank's stock valued at $224,404,000 after buying an additional 147,372 shares during the period. First Trust Advisors LP lifted its stake in shares of Associated Banc by 127.6% during the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank's stock valued at $154,416,000 after buying an additional 3,347,699 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Associated Banc by 1.1% during the fourth quarter. LSV Asset Management now owns 3,663,163 shares of the bank's stock valued at $94,363,000 after buying an additional 38,900 shares during the period. Hedge funds and other 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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