Associated Banc Corp (ASB) Insider Sells $240,100.00 in Stock

Associated Banc Corp (NYSE:ASB) insider Timothy J. Lau sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $24.01, for a total value of $240,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of Associated Banc Corp (NYSE ASB) traded up $0.02 on Tuesday, reaching $24.07. The company’s stock had a trading volume of 1,157,051 shares, compared to its average volume of 1,454,623. Associated Banc Corp has a fifty-two week low of $20.95 and a fifty-two week high of $26.70. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. The firm has a market cap of $4,117.47, a PE ratio of 16.80, a PEG ratio of 1.94 and a beta of 1.08.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). Associated Banc had a return on equity of 8.05% and a net margin of 18.80%. The firm had revenue of $272.00 million during the quarter, compared to analyst estimates of $281.38 million. During the same period in the previous year, the company earned $0.34 EPS. Associated Banc’s revenue for the quarter was up 5.8% on a year-over-year basis. equities analysts forecast that Associated Banc Corp will post 1.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. Associated Banc’s dividend payout ratio is presently 39.16%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH acquired a new position in Associated Banc in the 4th quarter worth about $27,878,000. Mackenzie Financial Corp acquired a new position in Associated Banc in the 4th quarter worth about $16,071,000. Quadrature Capital Ltd acquired a new position in Associated Banc in the 4th quarter worth about $374,000. Citadel Advisors LLC increased its holdings in Associated Banc by 85.6% in the 4th quarter. Citadel Advisors LLC now owns 82,927 shares of the bank’s stock worth $2,106,000 after purchasing an additional 38,238 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Associated Banc by 1.0% in the 4th quarter. American International Group Inc. now owns 312,777 shares of the bank’s stock worth $7,945,000 after purchasing an additional 3,161 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

A number of equities 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 reissued a “hold” rating and set a $27.00 price target on shares of Associated Banc in a report on Tuesday, January 9th. Barclays boosted their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Zacks Investment Research raised Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday, October 24th. Finally, Morgan Stanley boosted their price target on Associated Banc from $25.50 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Associated Banc has a consensus rating of “Hold” and a consensus target price of $26.30.

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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.

Insider Buying and Selling by Quarter for Associated Banc (NYSE:ASB)

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