David L. Stein Sells 7,000 Shares of Associated Banc-Corp (ASB) Stock
Associated Banc-Corp (NYSE:ASB) insider David L. Stein sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $22.77, for a total value of $159,390.00. Following the transaction, the insider now directly owns 37,591 shares in the company, valued at $855,947.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 2.01% during mid-day trading on Wednesday, reaching $22.85. The company’s stock had a trading volume of 746,400 shares. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $23.60. The firm’s 50-day moving average price is $20.84 and its 200 day moving average price is $19.18. The firm has a market cap of $3.40 billion, a P/E ratio of 19.20 and a beta of 1.18.
Associated Banc-Corp (NYSE:ASB) last announced its earnings results on Thursday, October 20th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Associated Banc-Corp had a return on equity of 6.46% and a net margin of 16.55%. During the same quarter in the prior year, the business posted $0.31 EPS. On average, analysts expect that Associated Banc-Corp will post $1.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.10%. This is an increase from Associated Banc-Corp’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, November 29th. Associated Banc-Corp’s payout ratio is 36.98%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased 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 period. Ameriprise Financial Inc. increased its position in shares of Associated Banc-Corp by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 754,480 shares of the company’s stock valued at $12,940,000 after buying an additional 4,069 shares during the period. Principal Financial Group Inc. increased its position in shares of Associated Banc-Corp by 12.5% in the second quarter. Principal Financial Group Inc. now owns 566,169 shares of the company’s stock valued at $9,710,000 after buying an additional 62,931 shares during the period. Amalgamated Bank increased its position in shares of Associated Banc-Corp by 10.0% in the second quarter. Amalgamated Bank now owns 20,272 shares of the company’s stock valued at $385,000 after buying an additional 1,842 shares during the period. Finally, Foundry Partners LLC increased its position in shares of Associated Banc-Corp by 5.0% in the third quarter. Foundry Partners LLC now owns 647,345 shares of the company’s stock valued at $12,681,000 after buying an additional 30,850 shares during the period. Hedge funds and other institutional investors own 77.54% of the company’s stock.
A number of research firms have weighed in on ASB. Barclays PLC increased their target price on Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 16th. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, September 13th. DA Davidson began coverage on Associated Banc-Corp in a report on Monday, October 3rd. They issued an “underperform” rating and a $18.00 target price on the stock. Deutsche Bank AG increased their target price on Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Finally, Jefferies Group downgraded Associated Banc-Corp from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus 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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