Lith Karen Van Sells 8,061 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares in the company, valued at approximately $1,108,254.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Associated Banc Trading Down 0.3 %

Shares of NYSE:ASB traded down $0.07 during midday trading on Thursday, hitting $20.47. 1,320,025 shares of the stock were exchanged, compared to its average volume of 1,345,934. Associated Banc-Corp has a 12 month low of $15.16 and a 12 month high of $24.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 2.32 and a beta of 0.93. The business’s 50-day moving average price is $21.85 and its 200 day moving average price is $21.28.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. Associated Banc’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. Analysts predict that Associated Banc-Corp will post 2.07 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 4.30%. Associated Banc’s payout ratio is 88.89%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ASB. Jefferies Financial Group decreased their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Piper Sandler raised their target price on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Robert W. Baird dropped their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Barclays lowered their target price on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.67.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds have recently made changes to their positions in ASB. Norges Bank acquired a new stake in Associated Banc during the 4th quarter valued at approximately $36,722,000. LSV Asset Management boosted its stake in shares of Associated Banc by 43.3% in the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after purchasing an additional 1,224,216 shares during the last quarter. Millennium Management LLC increased its position in shares of Associated Banc by 291.3% during the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock worth $33,063,000 after buying an additional 1,163,807 shares during the period. Verition Fund Management LLC raised its stake in Associated Banc by 50.2% during the fourth quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock worth $46,652,000 after buying an additional 728,555 shares during the last quarter. Finally, M&G Plc acquired a new position in Associated Banc in the first quarter valued at $8,057,000. 82.98% of the stock is currently owned by institutional investors.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.