Associated Banc-Corp (NYSE:ASB) EVP Nicole M. Kitowski Sells 5,019 Shares of Stock

Associated Banc-Corp (NYSE:ASB) EVP Nicole M. Kitowski sold 5,019 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total value of $106,553.37. Following the sale, 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 document filed with the SEC, which can be accessed through this link.

Associated Banc Trading Up 2.4 %

Associated Banc stock opened at $21.57 on Thursday. 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 1 year low of $14.47 and a 1 year high of $22.16. The firm’s 50-day moving average is $20.82 and its 200-day moving average is $19.90. The company has a market cap of $3.25 billion, a P/E ratio of 21.79, a PEG ratio of 1.28 and a beta of 1.00.

Associated Banc (NYSE:ASB) last issued its 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 analysts’ expectations of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. Associated Banc’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. On average, equities analysts expect that Associated Banc-Corp will post 2.11 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 4.08%. Associated Banc’s payout ratio is currently 88.89%.

Institutional Investors Weigh In On Associated Banc

A number of hedge funds have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC increased its holdings in shares of Associated Banc by 3.6% in the 4th quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock worth $307,000 after acquiring an additional 494 shares during the period. Arizona State Retirement System grew its position in Associated Banc by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 42,963 shares of the bank’s stock worth $735,000 after purchasing an additional 587 shares during the last quarter. KLCM Advisors Inc. increased its stake in shares of Associated Banc by 1.4% in the fourth quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank’s stock valued at $964,000 after purchasing an additional 611 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Associated Banc by 0.3% during the first quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after buying an additional 651 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Associated Banc by 2.2% during the first quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock worth $785,000 after buying an additional 800 shares during the period. 82.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ASB shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 target price on shares of Associated Banc in a research note on Tuesday, April 9th. Piper Sandler increased 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. Wells Fargo & Company boosted their target price on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Barclays increased their price target on shares of Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Raymond James boosted their price objective on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.13.

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.