Associated Banc-Corp (NYSE:ASB) CFO Moral-Niles Christopher Del sold 11,999 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $24.72, for a total transaction of $296,615.28. Following the completion of the sale, the chief financial officer now owns 81,092 shares of the company’s stock, valued at $2,004,594.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Associated Banc-Corp (ASB) traded up $0.15 on Thursday, reaching $24.85. 510,500 shares of the company’s stock traded hands, compared to its average volume of 898,872. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. Associated Banc-Corp has a 12 month low of $20.95 and a 12 month high of $26.70. The stock has a market capitalization of $3,780.00, a P/E ratio of 16.92, a P/E/G ratio of 2.35 and a beta of 1.20.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Associated Banc-Corp had a net margin of 19.54% and a return on equity of 7.81%. The company had revenue of $276.02 million during the quarter, compared to the consensus estimate of $276.88 million. During the same period in the previous year, the firm earned $0.31 earnings per share. equities research analysts anticipate that Associated Banc-Corp will post 1.5 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.3828 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 6.16%. Associated Banc-Corp’s payout ratio is currently 33.10%.
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ASB has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird restated a “hold” rating and issued a $25.00 target price on shares of Associated Banc-Corp in a report on Sunday, October 1st. SunTrust Banks, Inc. set a $26.00 target price on shares of Associated Banc-Corp and gave the company a “hold” rating in a report on Saturday, October 21st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a report on Tuesday, August 22nd. Finally, BidaskClub downgraded shares of Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Associated Banc-Corp presently has an average rating of “Hold” and a consensus price target of $25.82.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Associated Banc-Corp by 2.0% during the second quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock worth $321,025,000 after purchasing an additional 248,381 shares in the last quarter. State Street Corp raised its holdings in Associated Banc-Corp by 2.0% in the second quarter. State Street Corp now owns 6,922,074 shares of the bank’s stock valued at $174,433,000 after acquiring an additional 136,874 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Associated Banc-Corp by 3.3% in the third quarter. Victory Capital Management Inc. now owns 5,178,754 shares of the bank’s stock valued at $125,585,000 after acquiring an additional 164,148 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Associated Banc-Corp by 4.0% in the second quarter. Alliancebernstein L.P. now owns 4,193,941 shares of the bank’s stock valued at $105,687,000 after acquiring an additional 163,081 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Associated Banc-Corp by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 3,790,033 shares of the bank’s stock valued at $91,909,000 after acquiring an additional 64,574 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.
About Associated Banc-Corp
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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