John B. Williams Sells 2,830 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB - Get Free Report) Director John B. Williams sold 2,830 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the transaction, the director now directly owns 66,915 shares in the company, valued at $1,678,897.35. This represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Associated Banc Price Performance

NYSE:ASB traded down $0.74 on Friday, hitting $24.37. The company had a trading volume of 1,725,788 shares, compared to its average volume of 1,548,917. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.58 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $24.67 and a two-hundred day moving average of $23.75. Associated Banc-Corp has a 52 week low of $19.76 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 3.78%. Associated Banc's dividend payout ratio is presently 116.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASB. Barclays raised their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Piper Sandler upped their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Stephens reaffirmed an "equal weight" rating and set a $28.00 price objective on shares of Associated Banc in a research report on Friday, January 24th. Royal Bank of Canada upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. Finally, Robert W. Baird cut their price objective on shares of Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to data from MarketBeat.com, Associated Banc has an average rating of "Hold" and a consensus price target of $27.00.

Hedge Funds Weigh In On Associated Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Associated Banc by 8.7% in the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock worth $431,798,000 after purchasing an additional 1,444,068 shares during the last quarter. FMR LLC raised its position in Associated Banc by 9.4% during the 4th quarter. FMR LLC now owns 14,838,422 shares of the bank's stock worth $354,638,000 after purchasing an additional 1,272,441 shares during the last quarter. State Street Corp raised its position in Associated Banc by 3.3% during the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank's stock worth $177,282,000 after purchasing an additional 261,877 shares during the last quarter. Geode Capital Management LLC raised its position in Associated Banc by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank's stock worth $92,026,000 after purchasing an additional 265,378 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Associated Banc by 11.2% during the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank's stock worth $65,401,000 after purchasing an additional 305,133 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.