Associated Banc-Corp (ASB) Sees Unusually-High Trading Volume
Shares of Associated Banc-Corp (NYSE:ASB) saw unusually-high trading volume on Thursday . Approximately 920,318 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 544,599 shares.The stock last traded at $19.63 and had previously closed at $19.81.
ASB has been the topic of several analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $20.00 price objective on shares of Associated Banc-Corp in a research note on Friday, May 13th. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Jefferies Group reiterated a “buy” rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Finally, Barclays PLC upped their price objective on Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Associated Banc-Corp currently has a consensus rating of “Hold” and an average price target of $19.57.
The company has a 50-day moving average of $18.60 and a 200 day moving average of $17.97. The firm has a market cap of $2.92 billion and a price-to-earnings ratio of 16.92.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. On average, analysts anticipate that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.44 annualized dividend and a yield of 2.24%.
In other news, Director William R. Hutchinson sold 5,782 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $18.61, for a total transaction of $107,603.02. Following the transaction, the director now directly owns 90,142 shares of the company’s stock, valued at $1,677,542.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John A. Utz sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $18.75, for a total transaction of $46,875.00. Following the transaction, the insider now directly owns 47,790 shares in the company, valued at $896,062.50. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Associated Banc-Corp by 1.5% in the fourth quarter. Bank of Montreal Can now owns 57,087 shares of the company’s stock valued at $1,071,000 after buying an additional 847 shares in the last quarter. I.G. Investment Management LTD. boosted its position in shares of 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 valued at $12,122,000 after buying an additional 45,800 shares in the last quarter. Finally, Matarin Capital Management LLC acquired a new position in shares of Associated Banc-Corp during the fourth quarter valued at approximately $3,573,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.