Associated Banc Corp (NYSE:ASB) insider Christopher C. Piotrowski sold 10,726 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $24.75, for a total value of $265,468.50. Following the transaction, the insider now directly owns 24,209 shares of the company’s stock, valued at $599,172.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Associated Banc Corp (NYSE:ASB) traded up $0.05 on Friday, reaching $24.90. The company had a trading volume of 1,210,984 shares, compared to its average volume of 1,888,123. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $3,769.45, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Associated Banc Corp has a 52-week low of $20.95 and a 52-week high of $26.70.
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 Zacks’ consensus estimate of $0.38 by ($0.07). The business had revenue of $272.00 million during the quarter, compared to analyst estimates of $281.38 million. Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. equities research analysts predict that Associated Banc Corp will post 1.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.41%. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, February 28th. Associated Banc’s dividend payout ratio is 39.16%.
A number of brokerages have recently commented on ASB. Zacks Investment Research downgraded Associated Banc from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 31st. Barclays reissued a “hold” rating and set a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, January 30th. Piper Jaffray Companies reissued a “hold” rating and set a $26.00 price objective on shares of Associated Banc in a research report on Sunday, January 28th. Finally, SunTrust Banks reissued a “hold” rating and set a $27.00 price objective on shares of Associated Banc in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $26.30.
A number of institutional investors and hedge funds have recently made changes to their positions in ASB. Royal Bank of Canada boosted its holdings in Associated Banc by 4.8% in the second quarter. Royal Bank of Canada now owns 67,999 shares of the bank’s stock valued at $1,714,000 after purchasing an additional 3,093 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Associated Banc in the second quarter valued at approximately $2,797,000. State Street Corp boosted its holdings in Associated Banc 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 purchasing an additional 136,874 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Associated Banc by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 223,402 shares of the bank’s stock valued at $5,630,000 after purchasing an additional 4,459 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Associated Banc by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 45,582 shares of the bank’s stock valued at $1,149,000 after purchasing an additional 806 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.
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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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