Christopher C. Piotrowski Sells 16,218 Shares of Associated Banc-Corp (NYSE:ASB) Stock
Associated Banc-Corp (NYSE:ASB) insider Christopher C. Piotrowski sold 16,218 shares of Associated Banc-Corp stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the transaction, the insider now owns 30,479 shares in the company, valued at approximately $717,780.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Associated Banc-Corp (ASB) traded down 1.627% during mid-day trading on Thursday, hitting $22.675. The stock had a trading volume of 486,756 shares. Associated Banc-Corp has a 52 week low of $18.33 and a 52 week high of $26.70. The firm has a market cap of $3.44 billion, a PE ratio of 16.313 and a beta of 1.16. The company’s 50 day moving average price is $24.37 and its 200 day moving average price is $24.74.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $266.23 million for the quarter, compared to analyst estimates of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same period in the prior year, the company earned $0.31 EPS. Analysts anticipate that Associated Banc-Corp will post $1.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 34.53%.
Institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock valued at $118,000 after buying an additional 1,830 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its position in Associated Banc-Corp by 40.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock valued at $140,000 after buying an additional 1,597 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Associated Banc-Corp by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock valued at $149,000 after buying an additional 549 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock valued at $156,000 after buying an additional 30 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in Associated Banc-Corp during the first quarter valued at about $210,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
ASB has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and set a $25.00 price target (up from $24.00) on shares of Associated Banc-Corp in a report on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and set a $27.00 price target on shares of Associated Banc-Corp in a report on Sunday, June 11th. Piper Jaffray Companies set a $25.00 price target on Associated Banc-Corp and gave the stock a “hold” rating in a report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $26.00 price target on shares of Associated Banc-Corp in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Associated Banc-Corp has a consensus rating of “Hold” and an average price target of $25.00.
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.
Receive News & Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.