Associated Banc-Corp (ASB) Trading 3.6% Higher
Associated Banc-Corp (NYSE:ASB) traded up 3.6% during trading on Friday . The company traded as high as $18.55 and last traded at $18.53, with a volume of 706,940 shares changing hands. The stock had previously closed at $17.88.
A number of research firms have issued reports on ASB. Zacks Investment Research raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Thursday, March 31st. Deutsche Bank AG reissued a “buy” rating and set a $20.00 price target on shares of Associated Banc-Corp in a research report on Friday, May 13th. Finally, Macquarie downgraded Associated Banc-Corp from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $18.00 to $16.00 in a research report on Friday, April 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Associated Banc-Corp currently has an average rating of “Hold” and a consensus target price of $19.57.
The company has a 50-day moving average price of $17.53 and a 200 day moving average price of $17.62. The company has a market cap of $2.75 billion and a P/E ratio of 15.96.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. On average, equities analysts expect that Associated Banc-Corp will post $1.21 EPS for the current year.
In other news, CFO Moral-Niles Christopher Del sold 5,000 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of $17.87, for a total value of $89,350.00. Following the completion of the sale, the chief financial officer now owns 87,447 shares in the company, valued at $1,562,677.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 3,000 shares of the stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $18.05, for a total value of $54,150.00. Following the completion of the sale, the executive vice president now owns 56,290 shares of the company’s stock, valued at approximately $1,016,034.50. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in ASB. Dimensional Fund Advisors LP raised its stake in Associated Banc-Corp by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,277,477 shares of the company’s stock worth $155,205,000 after buying an additional 716,291 shares during the last quarter. Matarin Capital Management LLC acquired a new stake in Associated Banc-Corp during the fourth quarter worth about $3,573,000. I.G. Investment Management LTD. raised its stake in Associated Banc-Corp by 7.6% in the fourth quarter. I.G. Investment Management LTD. now owns 646,500 shares of the company’s stock worth $12,122,000 after buying an additional 45,800 shares during the last quarter. Victory Capital Management Inc. raised its stake in Associated Banc-Corp by 12.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,903,283 shares of the company’s stock worth $35,687,000 after buying an additional 209,996 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Associated Banc-Corp by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 482,735 shares of the company’s stock worth $9,051,000 after buying an additional 15,179 shares during the last quarter.
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 nonbanking 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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