Associated Banc-Corp (ASB) Sees Strong Trading Volume
Shares of Associated Banc-Corp (NYSE:ASB) saw unusually-high trading volume on Thursday . Approximately 920,318 shares were traded 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 a number of recent analyst reports. Barclays PLC raised 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. Zacks Investment Research raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Jefferies Group reissued a “buy” rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $20.00 price objective on shares of Associated Banc-Corp in a research note on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.57.
The firm has a market cap of $2.92 billion and a PE ratio of 16.93. The stock’s 50 day moving average price is $18.68 and its 200-day moving average price is $17.99.
Associated Banc-Corp (NYSE:ASB) last posted its earnings results on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. On average, equities research analysts forecast that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders 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 dividend yield of 2.24%.
In other news, insider Judith M. Docter sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $18.66, for a total transaction of $149,280.00. Following the completion of the transaction, the insider now directly owns 43,608 shares of the company’s stock, valued at $813,725.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John A. Utz sold 2,500 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $18.75, for a total value of $46,875.00. Following the transaction, the insider now directly owns 47,790 shares of the company’s stock, valued at $896,062.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Associated Banc-Corp stock. Bank of Montreal Can boosted its stake in Associated Banc-Corp (NYSE:ASB) by 1.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,087 shares of the company’s stock after buying an additional 847 shares during the period. Bank of Montreal Can’s holdings in Associated Banc-Corp were worth $1,071,000 at the end of the most recent reporting period.
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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