Associated Banc Corp (NYSE:ASB) EVP John A. Utz sold 3,000 shares of Associated Banc stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $20.04, for a total value of $60,120.00. Following the transaction, the executive vice president now directly owns 59,348 shares in the company, valued at approximately $1,189,333.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Associated Banc stock opened at $20.31 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc Corp has a 1-year low of $18.52 and a 1-year high of $27.30. The company has a market cap of $3.25 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20. The stock’s 50 day moving average price is $19.86 and its 200 day moving average price is $21.29.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. The firm had revenue of $309.46 million for the quarter, compared to the consensus estimate of $315.84 million. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts anticipate that Associated Banc Corp will post 1.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.35%. Associated Banc’s dividend payout ratio (DPR) is presently 33.50%.
A number of research analysts have recently issued reports on the company. SunTrust Banks set a $22.00 target price on Associated Banc and gave the company a “hold” rating in a report on Monday. Royal Bank of Canada set a $23.00 price target on Associated Banc and gave the company a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $24.50.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Associated Banc by 1.0% during the first quarter. BlackRock Inc. now owns 15,377,060 shares of the bank’s stock worth $328,301,000 after purchasing an additional 148,932 shares in the last quarter. Wells Fargo & Company MN boosted its position in Associated Banc by 8.1% during the second quarter. Wells Fargo & Company MN now owns 2,489,109 shares of the bank’s stock worth $52,620,000 after purchasing an additional 187,513 shares in the last quarter. LSV Asset Management boosted its position in Associated Banc by 20.6% during the second quarter. LSV Asset Management now owns 2,221,064 shares of the bank’s stock worth $46,953,000 after purchasing an additional 379,450 shares in the last quarter. Pzena Investment Management LLC boosted its position in Associated Banc by 1.2% during the second quarter. Pzena Investment Management LLC now owns 2,133,134 shares of the bank’s stock worth $45,094,000 after purchasing an additional 24,292 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its position in Associated Banc by 167.4% during the second quarter. Balyasny Asset Management LLC now owns 1,840,627 shares of the bank’s stock worth $38,911,000 after purchasing an additional 1,152,212 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
See Also: Straddles
Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.