Associated Banc-Corp (ASB) CFO Sells $296,615.28 in Stock
Associated Banc-Corp (NYSE:ASB) CFO Moral-Niles Christopher Del sold 11,999 shares of Associated Banc-Corp stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $24.72, for a total value of $296,615.28. Following the completion of the transaction, the chief financial officer now owns 81,092 shares of the company’s stock, valued at $2,004,594.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Associated Banc-Corp (NYSE ASB) traded down $0.05 during midday trading on Wednesday, hitting $24.70. The stock had a trading volume of 829,400 shares, compared to its average volume of 900,598. Associated Banc-Corp has a 12 month low of $20.95 and a 12 month high of $26.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market cap of $3,741.33, a price-to-earnings ratio of 16.95, a PEG ratio of 2.36 and a beta of 1.20.
Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Associated Banc-Corp had a return on equity of 7.81% and a net margin of 19.54%. The company had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. During the same quarter in the previous year, the company posted $0.31 EPS. sell-side analysts anticipate that Associated Banc-Corp will post 1.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.3828 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a yield of 6.20%. Associated Banc-Corp’s dividend payout ratio is presently 32.88%.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Associated Banc-Corp by 88.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 150,213 shares of the bank’s stock worth $3,643,000 after acquiring an additional 70,385 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Associated Banc-Corp during the 3rd quarter worth approximately $1,545,000. California Public Employees Retirement System grew its holdings in shares of Associated Banc-Corp by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 409,934 shares of the bank’s stock worth $9,941,000 after acquiring an additional 6,249 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Associated Banc-Corp during the 3rd quarter worth approximately $385,000. Finally, Crestline Management LP bought a new stake in shares of Associated Banc-Corp in the 3rd quarter worth approximately $1,285,000. Institutional investors own 76.65% of the company’s stock.
Several brokerages have recently weighed in on ASB. DA Davidson upgraded Associated Banc-Corp from an “underperform” rating to a “neutral” rating and set a $21.00 price target for the company in a research report on Wednesday, September 6th. Barclays PLC lifted their price target on Associated Banc-Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub cut Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 30th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $24.00 price objective on shares of Associated Banc-Corp in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. Associated Banc-Corp presently has an average rating of “Hold” and a consensus price target of $25.82.
Associated Banc-Corp 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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