Eileen Kamerick Sells 6,600 Shares of Associated Banc (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) Director Eileen Kamerick sold 6,600 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $28.02, for a total transaction of $184,932.00. Following the sale, the director directly owned 49,264 shares in the company, valued at approximately $1,380,377.28. This represents a 11.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Associated Banc Trading Up 0.7%

Shares of NYSE ASB opened at $28.55 on Friday. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $29.51. The company has a 50-day moving average of $27.09 and a two-hundred day moving average of $26.18. The company has a market cap of $4.74 billion, a PE ratio of 10.31, a P/E/G ratio of 1.31 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The business had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. During the same quarter last year, the business posted $0.72 earnings per share. As a group, equities analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 27th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.4%. Associated Banc’s payout ratio is presently 34.66%.

Institutional Investors Weigh In On Associated Banc

Large investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Associated Banc by 29.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,501 shares of the bank’s stock worth $399,000 after purchasing an additional 3,560 shares in the last quarter. XTX Topco Ltd acquired a new stake in Associated Banc during the 4th quarter worth $1,717,000. Voloridge Investment Management LLC raised its stake in Associated Banc by 327.4% during the 4th quarter. Voloridge Investment Management LLC now owns 807,808 shares of the bank’s stock worth $20,809,000 after buying an additional 618,789 shares during the period. SummitTX Capital L.P. bought a new position in Associated Banc during the fourth quarter worth about $387,000. Finally, Tudor Investment Corp ET AL acquired a new position in Associated Banc in the fourth quarter valued at about $2,705,000. Institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ASB shares. UBS Group reissued a “buy” rating and set a $28.00 price objective on shares of Associated Banc in a report on Tuesday, December 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. Piper Sandler increased their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings raised shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Raymond James Financial reiterated an “outperform” rating and set a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.20.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.