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.
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.
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