Associated Banc-Corp (ASB) Trading Up 3.6%
Associated Banc-Corp (NYSE:ASB)’s share price was up 3.6% during mid-day trading on Friday . The stock traded as high as $18.55 and last traded at $18.53, with a volume of 706,940 shares traded. The stock had previously closed at $17.88.
Several equities analysts have recently issued reports on ASB shares. Deutsche Bank AG restated a “buy” rating and set a $20.00 target price on shares of Associated Banc-Corp in a research report on Tuesday, April 5th. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Thursday, March 31st. Finally, Macquarie cut Associated Banc-Corp from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $18.00 to $16.00 in a report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.57.
The company’s 50 day moving average is $17.52 and its 200-day moving average is $17.62. The stock has a market cap of $2.75 billion and a PE ratio of 15.96.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. On average, equities analysts expect that Associated Banc-Corp will post $1.22 earnings per share for the current fiscal year.
In other news, EVP John A. Utz sold 3,000 shares of the stock in a transaction dated Wednesday, May 18th. The stock was 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 $1,016,034.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Moral-Niles Christopher Del sold 5,000 shares of the stock in a transaction dated Monday, June 13th. The shares were 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 directly owns 87,447 shares of the company’s stock, valued at approximately $1,562,677.89. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of Associated Banc-Corp by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,910,371 shares of the company’s stock valued at $54,570,000 after buying an additional 1,101,541 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $155,205,000 after buying an additional 716,291 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 valued at $35,687,000 after buying an additional 209,996 shares during the last quarter. Matarin Capital Management LLC bought a new stake in shares of Associated Banc-Corp during the fourth quarter valued at $3,573,000. Finally, I.G. Investment Management LTD. boosted its stake 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 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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