Associated Banc-Corp (NYSE:ASB – Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.25 per share by the bank on Tuesday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a 4.2% increase from Associated Banc’s previous quarterly dividend of $0.24.
Associated Banc has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 13 years. Associated Banc has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Associated Banc to earn $3.36 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 28.6%.
Associated Banc Trading Down 0.1%
Shares of NYSE:ASB opened at $30.20 on Wednesday. Associated Banc has a 52-week low of $23.87 and a 52-week high of $32.46. The company has a 50-day simple moving average of $29.74 and a 200 day simple moving average of $28.60.
Associated Banc (NYSE:ASB – Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $468.51 million for the quarter, compared to the consensus estimate of $463.69 million. During the same period last year, the firm earned $0.73 earnings per share. On average, equities research analysts anticipate that Associated Banc will post 2.97 earnings per share for the current year.
Insiders Place Their Bets
In other Associated Banc news, EVP Patrick Ahern sold 1,309 shares of Associated Banc stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total value of $40,382.65. Following the completion of the transaction, the executive vice president directly owned 43,743 shares of the company’s stock, valued at $1,349,471.55. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randall Erickson sold 43,561 shares of Associated Banc stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total value of $1,395,694.44. Following the completion of the transaction, the executive vice president directly owned 56,091 shares of the company’s stock, valued at $1,797,155.64. This represents a 43.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,170 shares of company stock worth $1,957,840 in the last 90 days. Company insiders own 0.71% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. IAG Wealth Partners LLC grew its stake in Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after buying an additional 1,190 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Associated Banc during the 3rd quarter worth approximately $55,000. Global Retirement Partners LLC bought a new stake in shares of Associated Banc during the 2nd quarter worth approximately $68,000. Western Wealth Management LLC bought a new stake in shares of Associated Banc during the 1st quarter worth approximately $59,000. Finally, Nykredit A S acquired a new stake in shares of Associated Banc during the 2nd quarter worth approximately $73,000. Institutional investors own 82.98% of the company’s stock.
Associated Banc Company Profile
Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.
Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.
The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.
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