Associated Banc-Corp (NYSE:ASB) EVP John A. Utz Sells 2,500 Shares

Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP John A. Utz sold 2,500 shares of the company's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $22.18, for a total transaction of $55,450.00. Following the completion of the transaction, the executive vice president now owns 100,922 shares of the company's stock, valued at approximately $2,238,449.96. The sale was disclosed in a filing with the SEC, which is available at this link.

Associated Banc Stock Performance

Shares of Associated Banc stock traded up $0.01 on Tuesday, reaching $22.16. 1,171,530 shares of the stock were exchanged, compared to its average volume of 1,438,775. The firm has a market capitalization of $3.34 billion, a PE ratio of 22.38, a PEG ratio of 1.30 and a beta of 0.99. Associated Banc-Corp has a 1-year low of $14.47 and a 1-year high of $22.48. The business has a fifty day moving average price of $20.95 and a two-hundred day moving average price of $20.10. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB - Get Free Report) last released its earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The company had revenue of $322.84 million for the quarter, compared to analysts' expectations of $325.00 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm's quarterly revenue was down 3.9% on a year-over-year basis. As a group, research analysts anticipate that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, May 31st. Associated Banc's payout ratio is 88.89%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Stephens reissued an "equal weight" rating and issued a $23.00 target price on shares of Associated Banc in a report on Friday, April 26th. Raymond James lifted their target price on shares of 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 increased their price target on shares of Associated Banc from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 10th. Piper Sandler lifted their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. Finally, 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. One 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $23.13.

Hedge Funds Weigh In On Associated Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Associated Banc during the 4th quarter worth approximately $36,722,000. LSV Asset Management boosted its stake in shares of Associated Banc by 43.3% during the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank's stock worth $87,133,000 after acquiring an additional 1,224,216 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Associated Banc by 50.2% during the 4th quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank's stock worth $46,652,000 after acquiring an additional 728,555 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Associated Banc by 92.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank's stock worth $24,524,000 after acquiring an additional 687,552 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Associated Banc by 2,344.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank's stock worth $12,134,000 after acquiring an additional 680,161 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Company Profile

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.