First Citizens Bank & Trust Co. Purchases 1,528 Shares of Associated Banc-Corp (ASB)
First Citizens Bank & Trust Co. increased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 25,123 shares of the company’s stock after buying an additional 1,528 shares during the period. First Citizens Bank & Trust Co.’s holdings in Associated Banc-Corp were worth $431,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Associated Banc-Corp during the first quarter valued at approximately $183,000. LS Investment Advisors LLC increased its stake in shares of Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock valued at $203,000 after buying an additional 3,889 shares during the last quarter. Oakbrook Investments LLC bought a new stake in shares of Associated Banc-Corp during the second quarter valued at approximately $264,000. AXA bought a new stake in shares of Associated Banc-Corp during the first quarter valued at approximately $334,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Associated Banc-Corp during the first quarter valued at approximately $368,000. Institutional investors and hedge funds own 74.28% of the company’s stock.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 1.05% on Friday, hitting $19.25. The stock had a trading volume of 527,823 shares. The stock has a market cap of $2.86 billion, a P/E ratio of 16.59 and a beta of 1.32. The firm’s 50-day moving average is $19.54 and its 200 day moving average is $18.42. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $20.90.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%. Equities analysts forecast that Associated Banc-Corp will post $1.23 EPS for the current year.
ASB has been the topic of several analyst reports. Zacks Investment Research downgraded Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, October 7th. DA Davidson initiated coverage on Associated Banc-Corp in a report on Monday, October 3rd. They set an “underperform” rating and a $18.00 price objective on the stock. Deutsche Bank AG lifted their price objective on Associated Banc-Corp from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a report on Monday, August 1st. Finally, Barclays PLC lifted their price objective on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Associated Banc-Corp has a consensus rating of “Hold” and an average price target of $19.63.
In other news, insider James Yee sold 9,983 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $19.19, for a total transaction of $191,573.77. Following the completion of the sale, the insider now owns 72,368 shares in the company, valued at approximately $1,388,741.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $18.61, for a total value of $186,100.00. Following the sale, the chief executive officer now owns 129,735 shares of the company’s stock, valued at approximately $2,414,368.35. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
Associated Banc-Corp Company Profile
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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