Insider Selling: Associated Banc Corp (ASB) EVP Sells 8,012 Shares of Stock

Associated Banc Corp (NYSE:ASB) EVP John P. Hankerd sold 8,012 shares of Associated Banc stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $23.95, for a total transaction of $191,887.40. Following the sale, the executive vice president now directly owns 27,648 shares in the company, valued at approximately $662,169.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Associated Banc Corp (NYSE ASB) traded up $0.55 during midday trading on Wednesday, reaching $24.65. The company’s stock had a trading volume of 1,463,392 shares, compared to its average volume of 1,456,781. The stock has a market capitalization of $4,143.31, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. Associated Banc Corp has a 52 week low of $20.95 and a 52 week high of $26.70.

Associated Banc (NYSE:ASB) last announced 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). The firm had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $281.38 million. Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. analysts predict that Associated Banc Corp will post 1.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.15 dividend. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.43%. Associated Banc’s payout ratio is 39.16%.

Several analysts have recently commented on ASB shares. Zacks Investment Research lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. SunTrust Banks set a $26.00 target price on Associated Banc and gave the company a “hold” rating in a research report on Saturday, October 21st. Morgan Stanley boosted their target price on Associated Banc from $25.50 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Piper Jaffray Companies reissued a “hold” rating and issued a $27.00 target price on shares of Associated Banc in a research report on Tuesday, January 9th. Finally, Barclays boosted their target price on Associated Banc from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.30.

Several large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its stake in shares of Associated Banc by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 45,582 shares of the bank’s stock worth $1,149,000 after acquiring an additional 806 shares in the last quarter. Landaas & Co. WI ADV grew its stake in shares of Associated Banc by 98.8% in the fourth quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after acquiring an additional 2,091 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Associated Banc by 11.6% in the third quarter. Pacer Advisors Inc. now owns 20,892 shares of the bank’s stock worth $507,000 after acquiring an additional 2,175 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Associated Banc by 2.9% in the second quarter. Public Employees Retirement System of Ohio now owns 79,828 shares of the bank’s stock worth $2,012,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Associated Banc by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,773 shares of the bank’s stock worth $223,000 after acquiring an additional 2,842 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

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About Associated Banc

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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