Insider Selling: Associated Banc-Corp (NYSE:ASB) Director Sells 7,000 Shares of Stock

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

Associated Banc Trading Down 1.4 %

Shares of ASB stock opened at $23.02 on Friday. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18. The firm has a 50-day moving average price of $24.64 and a 200 day moving average price of $23.97. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.52 and a beta of 0.94.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping 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%. Research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.00%. Associated Banc’s payout ratio is currently 116.46%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Associated Banc during the 4th quarter worth about $7,831,000. Heck Capital Advisors LLC purchased a new position in shares of Associated Banc during the 4th quarter worth about $343,000. Mackenzie Financial Corp purchased a new position in shares of Associated Banc during the 4th quarter worth about $221,000. North Star Asset Management Inc. lifted its holdings in shares of Associated Banc by 106.9% during the 4th quarter. North Star Asset Management Inc. now owns 111,801 shares of the bank’s stock worth $2,672,000 after acquiring an additional 57,757 shares during the period. Finally, GTS Securities LLC purchased a new position in Associated Banc in the fourth quarter valued at approximately $328,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ASB shares. Wells Fargo & Company boosted their price objective 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. Barclays boosted their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Friday, January 24th. Finally, Robert W. Baird cut their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.00.

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.