Eileen A. Kamerick Sells 7,000 Shares of Associated Banc-Corp (NYSE:ASB) Stock

Associated Banc-Corp (NYSE:ASB) Director Eileen A. Kamerick sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Associated Banc Stock Performance

Associated Banc stock traded down $0.98 during mid-day trading on Tuesday, reaching $23.25. The company’s stock had a trading volume of 382,874 shares, compared to its average volume of 1,365,114. The company has a market capitalization of $3.87 billion, a P/E ratio of 29.39, a PEG ratio of 1.52 and a beta of 0.94. The firm’s fifty day moving average price is $24.67 and its two-hundred day moving average price is $23.96. Associated Banc-Corp has a 12-month low of $19.76 and a 12-month high of $28.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.96%. Associated Banc’s dividend payout ratio (DPR) is presently 116.46%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quarry LP increased its holdings in shares of Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank’s stock worth $26,000 after buying an additional 651 shares during the period. Covestor Ltd lifted its position in Associated Banc by 221.0% in the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,032 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after purchasing an additional 579 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc during the third quarter valued at approximately $39,000. Finally, Crews Bank & Trust bought a new position in shares of Associated Banc in the fourth quarter worth approximately $56,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASB. Barclays upped their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Robert W. Baird reduced their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada upped their price objective on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, Stephens restated an “equal weight” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, Associated Banc currently has an average rating of “Hold” and a consensus target price of $27.00.

Associated Banc Company Profile

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.