Associated Banc-Corp (NYSE:ASB) insider Christopher C. Piotrowski sold 16,218 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the transaction, the insider now owns 30,479 shares of the company’s stock, valued at approximately $717,780.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Associated Banc-Corp (ASB) opened at 22.25 on Friday. The firm has a 50-day moving average price of $24.25 and a 200 day moving average price of $24.71. Associated Banc-Corp has a 12 month low of $18.85 and a 12 month high of $26.70. The company has a market cap of $3.37 billion, a P/E ratio of 16.01 and a beta of 1.16.
Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The firm had revenue of $266.23 million during the quarter, compared to analysts’ expectations of $273.29 million. During the same period in the prior year, the company earned $0.31 earnings per share. On average, equities analysts expect that Associated Banc-Corp will post $1.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.16%. The ex-dividend date is Wednesday, August 30th. Associated Banc-Corp’s payout ratio is presently 34.53%.
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A number of large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake 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 boosted its stake 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 boosted its stake 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 boosted its stake 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. acquired a new stake in Associated Banc-Corp during the first quarter valued at $210,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Several equities analysts recently commented on the company. BidaskClub downgraded Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research report on Saturday. Jefferies Group LLC restated a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a research report on Friday. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies set a $25.00 target price on Associated Banc-Corp and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Associated Banc-Corp has an average rating of “Hold” and a consensus target price 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.
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