Associated Banc-Corp (ASB) Sees Strong Trading Volume
Associated Banc-Corp (NYSE:ASB) saw an uptick in trading volume on Friday . 636,060 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 645,484 shares.The stock last traded at $19.76 and had previously closed at $19.68.
Several research firms have commented on ASB. Barclays PLC increased their price objective on shares of 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. Jefferies Group reiterated a “buy” rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Zacks Investment Research raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $20.00 target price on shares of Associated Banc-Corp in a research report on Friday, May 13th. 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 stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.57.
The company has a market capitalization of $2.94 billion and a PE ratio of 17.08. The firm’s 50-day moving average price is $19.01 and its 200-day moving average price is $18.09.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, hitting the Zacks’ 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 announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors 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 dividend on an annualized basis and a dividend yield of 2.22%.
In related news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $18.61, for a total transaction of $186,100.00. Following the completion of the transaction, the chief executive officer now owns 129,735 shares in the company, valued at $2,414,368.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 5,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $17.87, for a total transaction of $89,350.00. Following the transaction, the chief financial officer now 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.
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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