Associated Banc-Corp (ASB) Insider Sells $112,650.00 in Stock
Associated Banc-Corp (NYSE:ASB) insider William M. Bohn sold 5,000 shares of Associated Banc-Corp stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $22.53, for a total transaction of $112,650.00. Following the transaction, the insider now directly owns 37,865 shares of the company’s stock, valued at $853,098.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 1.674% during mid-day trading on Wednesday, hitting $22.775. 315,294 shares of the stock were exchanged. Associated Banc-Corp has a 52-week low of $15.45 and a 52-week high of $23.60. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 19.139 and a beta of 1.18. The stock has a 50-day moving average price of $20.77 and a 200 day moving average price of $19.14.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Associated Banc-Corp had a net margin of 16.55% and a return on equity of 6.46%. During the same period in the previous year, the firm earned $0.31 EPS. On average, equities research analysts expect that Associated Banc-Corp will post $1.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.14%. This is a boost from Associated Banc-Corp’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, November 29th. Associated Banc-Corp’s dividend payout ratio is presently 36.98%.
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A number of hedge funds and other institutional investors have recently modified their holdings of ASB. Victory Capital Management Inc. boosted its position in shares of Associated Banc-Corp by 169.3% in the third quarter. Victory Capital Management Inc. now owns 5,522,011 shares of the company’s stock valued at $108,176,000 after buying an additional 3,471,245 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Associated Banc-Corp by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 10,532,443 shares of the company’s stock valued at $180,628,000 after buying an additional 1,255,448 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Associated Banc-Corp by 24.7% in the second quarter. Alliancebernstein L.P. now owns 4,142,500 shares of the company’s stock valued at $71,044,000 after buying an additional 820,598 shares during the last quarter. Heartland Advisors Inc. acquired a new position in shares of Associated Banc-Corp during the third quarter valued at about $13,153,000. Finally, Foundry Partners LLC acquired a new position in shares of Associated Banc-Corp during the second quarter valued at about $10,573,000. Institutional investors own 77.54% of the company’s stock.
Several brokerages have issued reports on ASB. Jefferies Group cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a report on Monday. Zacks Investment Research cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. Deutsche Bank AG lifted their target price on shares of Associated Banc-Corp from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Finally, DA Davidson began coverage on shares of Associated Banc-Corp in a report on Monday, October 3rd. They issued an “underperform” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Associated Banc-Corp currently has an average rating of “Hold” and an average target price of $20.57.
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 nonbanking 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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