Associated Banc-Corp (NYSE:ASB – Get 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:ASB – Get 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
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
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.
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