Associated Banc-Corp (ASB) EVP Breck F. Hanson Sells 6,000 Shares
Associated Banc-Corp (NYSE:ASB) EVP Breck F. Hanson sold 6,000 shares of Associated Banc stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $25.71, for a total value of $154,260.00. Following the sale, the executive vice president now directly owns 15,536 shares of the company’s stock, valued at $399,430.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Associated Banc-Corp (NYSE:ASB) traded up $0.05 during trading hours on Friday, reaching $25.55. The company’s stock had a trading volume of 1,053,675 shares, compared to its average volume of 899,066. Associated Banc-Corp has a 1 year low of $20.95 and a 1 year high of $26.70. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $3,860.00, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.42 and a beta of 1.20.
Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. The firm had revenue of $276.02 million during the quarter, compared to analysts’ expectations of $276.88 million. During the same period in the previous year, the firm earned $0.31 earnings per share. equities analysts expect that Associated Banc-Corp will post 1.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.3828 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a yield of 5.99%. Associated Banc’s payout ratio is 33.10%.
A number of equities research analysts recently commented on the company. SunTrust Banks reaffirmed a “hold” rating and set a $27.00 price objective on shares of Associated Banc in a research note on Wednesday. Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays lifted their price objective on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Jefferies Group reaffirmed a “hold” rating and set a $28.00 price objective on shares of Associated Banc in a research note on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $25.00 price objective on shares of Associated Banc in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.91.
Large investors have recently bought and sold shares of the business. Morgan Dempsey Capital Management LLC boosted its position in shares of Associated Banc by 40.5% during the second quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Associated Banc by 10.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after buying an additional 549 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Associated Banc during the third quarter worth about $157,000. Meeder Asset Management Inc. boosted its position in shares of Associated Banc by 393.4% during the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after buying an additional 5,838 shares during the period. Finally, Flinton Capital Management LLC boosted its position in shares of Associated Banc by 73.4% during the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after buying an additional 3,360 shares during the period. 76.51% of the stock is owned by hedge funds and other institutional investors.
About Associated Banc
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 non-banking 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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