Insider Selling: Associated Banc Corp CFO Sells 3,000 Shares of Stock (ASBC)
Associated Banc Corp (NASDAQ:ASBC) CFO Moral-Niles Christopher Del unloaded 3,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $17.52, for a total transaction of $52,560.00. Following the completion of the transaction, the chief financial officer now directly owns 55,423 shares of the company’s stock, valued at approximately $971,011. The sale was disclosed in a legal filing with the SEC, which is available at this link.
ASBC has been the subject of a number of recent research reports. Analysts at Macquarie reiterated a “neutral” rating on shares of Associated Banc Corp in a research note on Monday, July 21st. They now have a $17.50 price target on the stock, up previously from $17.00. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Associated Banc Corp from $17.50 to $18.00 in a research note on Friday, July 18th. Finally, analysts at Robert W. Baird raised their price target on shares of Associated Banc Corp from $17.00 to $18.00 in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Associated Banc Corp has an average rating of “Hold” and an average price target of $18.50.
Shares of Associated Banc Corp (NASDAQ:ASBC) traded up 0.69% on Friday, hitting $17.61. The stock had a trading volume of 854,341 shares. Associated Banc Corp has a 52 week low of $15.06 and a 52 week high of $19.06. The stock’s 50-day moving average is $18.10 and its 200-day moving average is $17.49. The company has a market cap of $2.727 billion and a price-to-earnings ratio of 15.90.
Associated Banc Corp (NASDAQ:ASBC) last announced its earnings results on Thursday, July 17th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. During the same quarter in the previous year, the company posted $0.28 earnings per share. Analysts expect that Associated Banc Corp will post $1.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, August 28th.
Associated Banc-Corp (NASDAQ:ASBC) is a bank holding company.
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