FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
Eileen A. Kamerick, a director at Associated Banc-Corp (NYSE:ASB), has sold 7,000 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at a price of $24.71 each, resulting in a total transaction value of $172,970. Following this sale, Kamerick retains ownership of 49,495 shares in the company. This transaction was executed on March 3, 2025.The $3.8 billion regional bank currently trades at $23.13, down from the insider’s sale price, with a P/E ratio of 31.64. InvestingPro data shows the bank has maintained dividend payments for 51 consecutive years, currently yielding 3.8%. For deeper insights into ASB’s insider trading patterns and comprehensive analysis, access the full Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Associated Banc-Corp reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an earnings per share (EPS) of $0.57, compared to the forecast of $0.52. Despite this positive EPS result, the company’s revenue fell short of projections, coming in at $63.52 million against the anticipated $339.78 million. The company declared quarterly cash dividends for common and preferred shareholders, with a dividend of $0.23 per common share. Additionally, dividends were announced for the 5.875% Series E and 5.625% Series F Perpetual Preferred Stock.
Analyst David George from Baird revised the price target for Associated Banc-Corp to $26.00 from $28.00 while maintaining a Neutral rating, citing consistent core pre-provision net revenue trends despite weaker-than-expected net interest income. Conversely, Keefe, Bruyette & Woods increased their price target for the company to $30.00, maintaining a Market Perform rating, highlighting a promising loan growth outlook heading into 2025. The firm noted that Associated Banc-Corp’s recent balance sheet restructuring could enhance net interest income and loan growth for the coming years.
These developments reflect strategic initiatives and financial adjustments within Associated Banc-Corp, as analysts and investors closely monitor the company’s performance and market conditions.
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