Associated Banc Corp (NYSE:ASB) CFO Moral-Niles Christopher Del sold 4,000 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $26.59, for a total value of $106,360.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of ASB stock traded down $0.18 during midday trading on Wednesday, reaching $26.07. The company had a trading volume of 79,333 shares, compared to its average volume of 1,508,106. Associated Banc Corp has a 52-week low of $20.95 and a 52-week high of $27.20. The firm has a market cap of $3,966.64, a P/E ratio of 18.36, a P/E/G ratio of 2.11 and a beta of 1.03. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.
Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The company had revenue of $272.00 million during the quarter, compared to analyst estimates of $281.38 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. equities analysts predict that Associated Banc Corp will post 1.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a $0.15 dividend. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, February 28th. Associated Banc’s dividend payout ratio is currently 41.96%.
Several brokerages recently weighed in on ASB. ValuEngine raised Associated Banc from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley cut their target price on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 31st. Barclays reaffirmed a “hold” rating and issued a $28.00 target price on shares of Associated Banc in a research report on Tuesday, January 30th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.00 target price on shares of Associated Banc in a research report on Sunday, January 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Associated Banc has a consensus rating of “Hold” and a consensus price target of $26.30.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new stake in shares of Associated Banc during the fourth quarter valued at about $365,000. Sterling Capital Management LLC acquired a new stake in shares of Associated Banc during the fourth quarter valued at about $798,000. MetLife Investment Advisors LLC acquired a new stake in shares of Associated Banc during the fourth quarter valued at about $2,429,000. All Terrain Financial Advisors LLC acquired a new stake in shares of Associated Banc during the fourth quarter valued at about $1,017,000. Finally, Macquarie Group Ltd. grew its stake in shares of Associated Banc by 290.9% during the fourth quarter. Macquarie Group Ltd. now owns 8,600 shares of the bank’s stock valued at $218,000 after acquiring an additional 6,400 shares in the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.
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Associated Banc Company Profile
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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