Associated Banc-Corp (ASB) Stock Update

Rafferty Asset Management LLC lessened its stake in Associated Banc-Corp (NYSE:ASB) by 7.3% during the fourth quarter, owning 272,459 shares worth $6,512,000. Other institutional investors, including Wellington Management Group LLP and Norges Bank, acquired new stakes worth approximately $37,662,000 and $36,144,000, respectively. Vanguard Group Inc. and FMR LLC also increased their holdings. Overall, institutional investors own 82.98% of the company’s stock.

CEO Andrew J. Harmening purchased 12,910 shares at $23.25 per share on May 9th, for a total transaction of $300,157.50. Director Eileen A. Kamerick sold 7,000 shares at $24.71 per share on March 3rd, for a total transaction of $172,970.00. Insiders own 1.45% of the stock.

Associated Banc stock opened at $24.27 on Friday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 30.72, and a beta of 0.79. The company’s 50-day moving average price is $21.80, and its 200-day moving average price is $23.93. The stock has a 52-week low of $18.32 and a 52-week high of $28.18.

Associated Banc reported $0.59 earnings per share for the quarter, topping estimates of $0.57. The company had revenue of $348.97 million, compared to the consensus estimate of $347.86 million. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

The firm announced a quarterly dividend of $0.23 per share, payable on June 16th to investors of record on June 2nd. This represents an annualized dividend of $0.92 and a dividend yield of 3.79%. Associated Banc’s dividend payout ratio is presently 106.98%.

Several equities analysts have commented on the stock. Truist Financial assumed coverage with a “hold” rating and a $26.00 price objective. Royal Bank of Canada increased their price target from $26.00 to $27.00, while Wells Fargo & Company upgraded the stock to “overweight”. The company presently has an average rating of “Hold” and an average target price of $26.00.

KeyCorp (KEY) Stock Update

Rafferty Asset Management LLC increased its stake in KeyCorp (NYSE:KEY) by 9.0% during the fourth quarter, owning 359,714 shares worth $6,165,000. Other institutional investors, including Whittier Trust Co. and Ethos Financial Group LLC, also made changes to their positions. Institutional investors own 79.69% of the company’s stock.

Analyst ratings changes include Royal Bank of Canada reiterating an “outperform” rating and DA Davidson decreasing their price target to $21.00. StockNews.com raised KeyCorp from a “sell” rating to a “hold” rating. KeyCorp presently has an average rating of “Moderate Buy” and a consensus target price of $18.92.

KeyCorp opened at $16.63 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85, and a debt-to-equity ratio of 0.77. The business’s 50-day simple moving average is $15.15, and its 200-day simple moving average is $16.89. The stock has a market cap of $18.22 billion, a PE ratio of -55.42, and a beta of 1.08.

KeyCorp reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. As a group, analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

The business disclosed a quarterly dividend of $0.205 per share, payable on June 13th to shareholders of record on May 27th. This represents an annualized dividend of $0.82 and a yield of 4.93%. KeyCorp’s payout ratio is currently -482.35%.

KeyCorp announced a share repurchase program authorizing the company to buyback $1.00 billion in shares.

Insider Mohit Ramani purchased 10,000 shares at $13.75 per share on April 21st. Director Carlton L. Highsmith sold 5,000 shares at $16.60, for a total value of $83,000.00. 0.52% of the stock is currently owned by insiders.