In a recent transaction, Executive Vice President John A. Utz of Associated Banc-Corp (NYSE:ASB) sold shares in the company. The transaction involved the sale of 2,500 shares at a price of $22.175 each, totaling approximately $55,437. Following the sale, Utz still holds a significant number of shares, with direct ownership of 100,921.7825 shares in the company.
The sale, which took place on May 6, 2024, was reported in an SEC filing dated May 7, 2024. It's noteworthy that this transaction does not reflect Utz's entire stake in Associated Banc-Corp, as he also has indirect ownership through a 401(k) Plan, amounting to 14,666.28 shares.
Investors often pay close attention to insider transactions as they provide insights into executives' perspectives on the company's current valuation and future prospects. The details of the sale, including the number of shares and the price per share, are publicly available information that investors can use to inform their investment decisions.
As of the latest reports, Associated Banc-Corp, a state commercial bank headquartered in Green Bay, Wisconsin, continues to operate with Utz as its Executive Vice President. The company's stock is traded on the New York Stock Exchange under the ticker symbol ASB.
InvestingPro Insights
Amidst the news of Executive Vice President John A. Utz's share sale, Associated Banc-Corp (NYSE:ASB) presents an intriguing profile for investors considering the company's financial metrics and market performance. Based on recent data from InvestingPro, ASB's market capitalization stands at $3.32 billion, reflecting its substantial presence in the banking sector. The company's P/E ratio is currently at 22.63, which aligns with industry standards and suggests a balanced valuation relative to its earnings.
InvestingPro Tips reveal that Associated Banc-Corp has a strong track record of dividend reliability, having raised its dividend for 12 consecutive years and maintained payments for an impressive 50 consecutive years. This consistent dividend history often appeals to income-focused investors seeking stability in their portfolios. Additionally, the company has experienced a significant price uptick over the last six months, with a 30.58% total return, indicating robust investor confidence and a potentially favorable outlook.
While analysts have revised their earnings expectations downwards for the upcoming period, the company's dividend yield as of the beginning of the year stands at a healthy 3.97%, which may cushion any potential earnings volatility for dividend investors. It's also worth noting that with a Price / Book ratio of 0.84 as of the last twelve months, the stock may be considered undervalued by traditional metrics, potentially providing an attractive entry point for value investors.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/ASB, which could further inform investment decisions. Interested investors can also benefit from a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more insights and metrics to guide their investment strategy.
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