Associated Banc-Corp executive sells over $45k in company stock

In a recent transaction, John A. Utz, Executive Vice President of Associated Banc-Corp (NYSE:ASB), sold 2,000 shares of the company's common stock. The sale, which took place on August 29, 2024, was executed at a price of $22.7808 per share, resulting in a total transaction value of $45,561.60. Following the sale, Utz's direct holdings in the company decreased to 99,637.036 shares.

The transaction was publicly disclosed in a filing with the Securities and Exchange Commission. It is not uncommon for executives to sell portions of their stock holdings, and such sales are often scheduled in advance through trading plans.

Associated Banc-Corp, headquartered in Green Bay, Wisconsin, operates as a state commercial bank. As of the date of the transaction, the company's stock is listed on the New York Stock Exchange under the ticker symbol ASB.

Investors often keep an eye on insider transactions as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it's important to note that there are many reasons why an executive might choose to sell shares, and such transactions do not necessarily indicate a lack of confidence in the company.

The recent filing did not contain any footnotes that would provide additional context for the transaction. As of now, the remaining direct and indirect holdings of John A. Utz in Associated Banc-Corp remain substantial, demonstrating continued vested interest in the company's performance.

In other recent news, Associated Banc-Corp has revealed its Q2 earnings, posting an earnings per share (EPS) of $0.74, bolstered by a one-time $33 million tax benefit, and an adjusted EPS of $0.52. The company experienced a loan growth of $211 million, primarily in commercial and prime/super prime auto loans. Despite a slight decrease in core customer deposits, Associated Banc-Corp remains optimistic about deposit growth. Piper Sandler has raised the price target for Associated Banc-Corp to $24, keeping a Neutral rating, while RBC Capital and Baird adjusted their price targets to $25. These adjustments come in response to the company's financial performance and future growth expectations. Associated Banc-Corp is also progressing with a strategic plan focusing on customer growth, profitability, and digital transformation. The company has hired 10 out of a planned 26 commercial relationship managers to foster future growth. These are the recent developments within Associated Banc-Corp.

InvestingPro Insights

Following the recent insider transaction by John A. Utz at Associated Banc-Corp, investors may be seeking additional context to understand the financial health and performance of the company. According to InvestingPro data, Associated Banc-Corp has a market capitalization of $3.39 billion and maintains a Price/Earnings (P/E) ratio of 19.39, which is slightly adjusted to 19.2 when considering the last twelve months as of Q2 2024. The company's revenue has experienced a decline of 21.33% over the same period, indicating potential challenges in growth.

Despite the revenue downturn, Associated Banc-Corp has shown a strong commitment to returning value to shareholders. One of the key InvestingPro Tips highlights the company's track record of raising its dividend for 12 consecutive years, underscoring its financial stability and commitment to shareholders. Additionally, the company has maintained dividend payments for an impressive 50 years, with the current dividend yield standing at 3.87% as of the latest data.

Investors should also consider the company's profitability metrics. Associated Banc-Corp has been profitable over the last twelve months, as indicated by a basic EPS (Earnings Per Share) from continuing operations of $1.18. This profitability is further supported by an operating income margin of 25.62%, which is a strong indicator of the company's ability to manage its expenses and generate earnings.

For those interested in gaining deeper insights into Associated Banc-Corp's performance and future outlook, InvestingPro offers additional tips. Currently, there are six more InvestingPro Tips available, which can provide valuable information for making informed investment decisions. To explore these further, investors can visit https://www.investing.com/pro/ASB.

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