Associated Banc Corp (ASB) Insider John A. Utz Sells 450 Shares
Associated Banc Corp (NYSE:ASB) insider John A. Utz sold 450 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $26.00, for a total value of $11,700.00. Following the transaction, the insider now owns 39,812 shares of the company’s stock, valued at $1,035,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Associated Banc Corp (NYSE ASB) remained flat at $$26.55 during midday trading on Friday. 636,595 shares of the company’s stock traded hands, compared to its average volume of 856,956. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $4,010.00, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19. Associated Banc Corp has a 52-week low of $20.95 and a 52-week high of $26.70.
Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. During the same period in the prior year, the company posted $0.31 earnings per share. sell-side analysts forecast that Associated Banc Corp will post 1.49 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in ASB. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Associated Banc 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 acquiring an additional 549 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Associated Banc in the third quarter valued at $157,000. Meeder Asset Management Inc. grew its position in Associated Banc by 393.4% in the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock valued at $178,000 after acquiring an additional 5,838 shares during the period. Flinton Capital Management LLC grew its position in Associated Banc by 73.4% in the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock valued at $200,000 after acquiring an additional 3,360 shares during the period. Finally, Riverhead Capital Management LLC grew its position in Associated Banc by 73.6% in the second quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock valued at $223,000 after acquiring an additional 3,754 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.
A number of research analysts have recently commented on the company. SunTrust Banks set a $26.00 price target on Associated Banc and gave the stock a “hold” rating in a report on Saturday, October 21st. Piper Jaffray Companies restated a “hold” rating and issued a $27.00 target price on shares of Associated Banc in a research note on Tuesday. Barclays upped their target price on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Zacks Investment Research upgraded Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upped their target price on Associated Banc from $25.50 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Associated Banc has a consensus rating of “Hold” and an average target price of $26.60.
Associated Banc Company Profile
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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