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

Associated Banc-Corp (NYSE:ASB) EVP Nicole M. Kitowski sold 5,019 shares of the 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 completion of the sale, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at $806,591.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Associated Banc Stock Up 1.4 %

Shares of NYSE ASB opened at $21.87 on Friday. The stock has a market cap of $3.29 billion, a PE ratio of 22.09, a PEG ratio of 1.25 and a beta of 0.99. The business has a fifty day moving average of $20.84 and a two-hundred day moving average of $19.91. Associated Banc-Corp has a 52-week low of $14.47 and a 52-week high of $22.16. 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 (NYSE:ASB) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The business’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. As a group, equities research analysts expect that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued 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 dividend yield of 4.02%. Associated Banc’s payout ratio is presently 88.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Associated Banc by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after buying an additional 184,813 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Associated Banc by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank’s stock valued at $231,776,000 after buying an additional 229,552 shares in the last quarter. LSV Asset Management increased its stake in shares of Associated Banc by 21.0% in the fourth quarter. LSV Asset Management now owns 2,826,597 shares of the bank’s stock valued at $60,461,000 after buying an additional 490,321 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Associated Banc by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,744,918 shares of the bank’s stock valued at $46,966,000 after buying an additional 21,981 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Associated Banc by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,457 shares of the bank’s stock valued at $48,223,000 after buying an additional 40,111 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Piper Sandler raised their target price on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Wells Fargo & Company raised their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Raymond James raised their target price on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Tuesday, April 9th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.