Associated Banc (NYSE:ASB) EVP Gregory Warsek Sells 16,300 Shares of Stock

Associated Banc-Corp (NYSE:ASBGet Free Report) EVP Gregory Warsek sold 16,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the sale, the executive vice president directly owned 13,809 shares in the company, valued at $442,026.09. This trade represents a 54.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Associated Banc Trading Up 0.5%

Associated Banc stock traded up $0.15 during trading on Thursday, hitting $32.28. The company had a trading volume of 397,838 shares, compared to its average volume of 2,199,942. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. Associated Banc-Corp has a 1-year low of $23.86 and a 1-year high of $32.44. The company’s 50 day simple moving average is $30.37 and its 200-day simple moving average is $28.25.

Associated Banc (NYSE:ASBGet Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $454.54 million for the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, analysts expect that Associated Banc-Corp will post 2.91 EPS for the current fiscal year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.0%. Associated Banc’s dividend payout ratio is presently 33.57%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ASB shares. Barclays boosted their price target on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price target on shares of Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial upped their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Raymond James Financial increased their price objective on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.60.

Get Our Latest Stock Report on Associated Banc

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Commerce Bank acquired a new stake in shares of Associated Banc in the 2nd quarter valued at $763,000. Northwestern Mutual Wealth Management Co. purchased a new position in Associated Banc in the second quarter valued at $116,000. Quantbot Technologies LP purchased a new position in Associated Banc in the second quarter valued at $85,000. Ieq Capital LLC acquired a new stake in Associated Banc in the second quarter valued at $4,414,000. Finally, Heartland Advisors Inc. acquired a new stake in Associated Banc in the second quarter valued at $25,723,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Associated Banc (NYSE:ASB)

Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.