John A. Utz Sells 2,000 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the transaction, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Associated Banc Trading Up 0.7 %

NYSE ASB opened at $22.88 on Friday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.39 and a beta of 0.95. Associated Banc-Corp has a 52 week low of $15.16 and a 52 week high of $24.21. The stock’s 50 day moving average price is $21.67 and its two-hundred day moving average price is $21.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS. As a group, analysts anticipate that Associated Banc-Corp will post 2.09 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is 88.89%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ASB. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Robert W. Baird cut their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Piper Sandler boosted their target price on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group cut their target price on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Associated Banc by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock worth $334,522,000 after purchasing an additional 184,813 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Associated Banc by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank’s stock worth $231,776,000 after acquiring an additional 229,552 shares during the last quarter. LSV Asset Management increased its holdings 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Associated Banc by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,457 shares of the bank’s stock worth $48,223,000 after acquiring an additional 40,111 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings 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 during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

About Associated Banc

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.