Insider Selling: Associated Banc-Corp (NYSE:ASB) Director Sells 1,840 Shares of Stock

Financial News Live · Feb 8, 2023 10:42

Associated Banc-Corp (NYSE:ASB – Get Rating) Director John B. Williams sold 1,840 shares of Associated Banc stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $23.95, for a total value of $44,068.00. Following the completion of the transaction, the director now directly owns 57,576 shares in the company, valued at $1,378,945.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Associated Banc Trading Down 0.8 %

NYSE ASB traded down $0.19 during trading on Wednesday, hitting $23.98. The company had a trading volume of 44,216 shares, compared to its average volume of 1,451,535. The company's fifty day moving average is $22.91 and its 200-day moving average is $22.16. Associated Banc-Corp has a one year low of $17.45 and a one year high of $25.74. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.20. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

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Associated Banc (NYSE:ASB – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $452.94 million during the quarter, compared to the consensus estimate of $347.92 million. Associated Banc had a net margin of 25.65% and a return on equity of 9.70%. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, sell-side analysts predict 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 Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Tuesday, February 28th. Associated Banc's dividend payout ratio is 35.74%.

Analysts Set New Price Targets

ASB has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Associated Banc in a report on Wednesday, October 12th. They set a "hold" rating for the company. Bank of America raised Associated Banc from an "underperform" rating to a "neutral" rating and set a $24.00 target price on the stock in a research note on Tuesday, October 25th.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently modified their holdings of the stock. Guardian Wealth Advisors LLC purchased a new stake in shares of Associated Banc during the third quarter valued at approximately $26,000. Allworth Financial LP lifted its stake in Associated Banc by 26,450.0% during the 4th quarter. Allworth Financial LP now owns 1,593 shares of the bank's stock valued at $37,000 after acquiring an additional 1,587 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Associated Banc by 74.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,685 shares of the bank's stock valued at $39,000 after acquiring an additional 718 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Associated Banc by 94.0% in the third quarter. Quadrant Capital Group LLC now owns 1,779 shares of the bank's stock worth $36,000 after acquiring an additional 862 shares during the period. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Associated Banc during the fourth quarter valued at approximately $73,000. 78.95% of the stock is currently owned by institutional investors.

About Associated Banc

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Associated Banc-Corp. operates as a bank holding company, which offers various banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.