Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now owns 37,993 shares of the company's stock, valued at approximately $806,591.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Associated Banc Stock Performance
Shares of ASB stock traded up $0.50 during mid-day trading on Wednesday, hitting $21.57. 1,579,107 shares of the stock were exchanged, compared to its average volume of 1,457,227. The stock's fifty day simple moving average is $20.82 and its two-hundred day simple moving average is $19.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. Associated Banc-Corp has a 12-month low of $14.47 and a 12-month high of $22.16. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 1.28 and a beta of 1.00.
Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. The firm had revenue of $322.84 million for the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. On average, analysts forecast that Associated Banc-Corp will post 2.11 EPS for the current year.
Associated Banc Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.08%. Associated Banc's payout ratio is 88.89%.
Analysts Set New Price Targets
A number of research firms recently issued reports on ASB. Raymond James lifted their target price on Associated Banc from $21.00 to $25.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Wells Fargo & Company boosted their price objective on Associated Banc from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. Barclays increased their price objective on shares of Associated Banc from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Friday, April 26th. Finally, Stephens reiterated an "equal weight" rating and set a $23.00 target price on shares of Associated Banc in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $23.13.
Check Out Our Latest Stock Analysis on ASB
Institutional Trading of Associated Banc
A number of large investors have recently bought and sold shares of the business. Steph & Co. raised its holdings in shares of Associated Banc by 470.2% in the first quarter. Steph & Co. now owns 1,169 shares of the bank's stock valued at $25,000 after buying an additional 964 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in Associated Banc in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new stake in Associated Banc during the 3rd quarter valued at approximately $29,000. Parallel Advisors LLC lifted its position in Associated Banc by 64.0% during the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank's stock worth $49,000 after acquiring an additional 894 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of Associated Banc by 183.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank's stock valued at $61,000 after purchasing an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.
Associated Banc Company Profile
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Get Free Report)
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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