Associated Banc Corp (NYSE:ASB) EVP John A. Utz sold 12,865 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $26.75, for a total transaction of $344,138.75. Following the completion of the transaction, the executive vice president now directly owns 42,384 shares in the company, valued at approximately $1,133,772. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Associated Banc Corp (NYSE:ASB) opened at $26.80 on Friday. 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 Corp has a twelve month low of $20.95 and a twelve month high of $27.20. The company has a market cap of $4,080.41, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.17 and a beta of 1.03.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $272.00 million for the quarter, compared to the consensus estimate of $281.38 million. During the same period in the prior year, the business posted $0.34 EPS. Associated Banc’s revenue for the quarter was up 5.8% on a year-over-year basis. research analysts forecast that Associated Banc Corp will post 1.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 2.24%. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. Associated Banc’s dividend payout ratio is presently 41.96%.
ASB has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Tuesday, January 2nd. Morgan Stanley increased their target price on shares of Associated Banc from $25.50 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.00 target price on shares of Associated Banc in a report on Sunday, January 28th. Barclays increased their target price on shares of Associated Banc from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $26.30.
Institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in Associated Banc by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 409,934 shares of the bank’s stock valued at $9,941,000 after buying an additional 6,249 shares during the period. Swiss National Bank boosted its position in Associated Banc by 1.9% during the 4th quarter. Swiss National Bank now owns 257,800 shares of the bank’s stock valued at $6,548,000 after buying an additional 4,900 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Associated Banc during the 3rd quarter valued at $677,000. Crossmark Global Holdings Inc. purchased a new stake in Associated Banc during the 3rd quarter valued at $402,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Associated Banc by 7.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 865,036 shares of the bank’s stock valued at $20,978,000 after buying an additional 56,515 shares during the period. 77.92% of the stock is owned by institutional investors and hedge funds.
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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