Associated Banc-Corp (NYSE:ASB) EVP John A. Utz Sells 19,044 Shares

Associated Banc-Corp (NYSE:ASB - Get Free Report) EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now owns 100,204 shares in the company, valued at approximately $2,423,934.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Associated Banc Stock Performance

Associated Banc stock traded down $0.29 during mid-day trading on Thursday, hitting $23.73. The company had a trading volume of 1,766,561 shares, compared to its average volume of 1,339,491. Associated Banc-Corp has a 12-month low of $15.94 and a 12-month high of $24.31. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.66 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The company's fifty day moving average is $21.93 and its 200-day moving average is $21.53.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same period in the prior year, the company earned $0.53 EPS. Equities research analysts predict that Associated Banc-Corp will post 2.06 EPS for the current year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. This is a boost from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.88%. Associated Banc's payout ratio is presently 88.89%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ASB shares. Piper Sandler boosted their target price on Associated Banc from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. Jefferies Financial Group decreased 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. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a "market perform" rating in a research 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. Finally, Barclays increased their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Associated Banc currently has a consensus rating of "Hold" and an average price target of $23.89.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASB. LSV Asset Management lifted its position in shares of Associated Banc by 43.3% during the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank's stock worth $87,133,000 after purchasing an additional 1,224,216 shares in the last quarter. Millennium Management LLC lifted its position in shares of Associated Banc by 291.3% during the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank's stock worth $33,063,000 after purchasing an additional 1,163,807 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Associated Banc by 12.0% during the second quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank's stock worth $24,309,000 after purchasing an additional 123,271 shares in the last quarter. Interval Partners LP lifted its position in shares of Associated Banc by 27.6% during the second quarter. Interval Partners LP now owns 442,947 shares of the bank's stock worth $9,368,000 after purchasing an additional 95,928 shares in the last quarter. Finally, M&G PLC lifted its position in shares of Associated Banc by 2.9% during the third quarter. M&G PLC now owns 423,903 shares of the bank's stock worth $9,326,000 after purchasing an additional 12,142 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.