Associated Banc Corp (NYSE:ASB) EVP William M. Bohn sold 15,481 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $21.53, for a total value of $333,305.93. Following the completion of the sale, the executive vice president now owns 73,721 shares of the company’s stock, valued at $1,587,213.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of ASB stock opened at $21.60 on Friday. Associated Banc Corp has a 12 month low of $18.52 and a 12 month high of $23.83. The firm has a market cap of $3.43 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The stock has a 50 day moving average of $20.43 and a 200-day moving average of $20.65. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.00.
Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Associated Banc had a return on equity of 9.71% and a net margin of 21.73%. The company had revenue of $307.00 million during the quarter, compared to analyst estimates of $312.55 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that Associated Banc Corp will post 1.92 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. ValuEngine lowered Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, November 1st. SunTrust Banks set a $22.00 target price on Associated Banc and gave the stock a “hold” rating in a report on Monday, September 9th. Zacks Investment Research upgraded Associated Banc from a “strong sell” rating to a “hold” rating and set a $17.00 target price for the company in a report on Tuesday, October 29th. Royal Bank of Canada set a $23.00 target price on Associated Banc and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Bank of America set a $19.00 target price on Associated Banc and gave the stock a “sell” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.00.
Hedge funds have recently modified their holdings of the company. Commonwealth Bank of Australia lifted its holdings in shares of Associated Banc by 47.1% during the second quarter. Commonwealth Bank of Australia now owns 25,600 shares of the bank’s stock worth $541,000 after buying an additional 8,200 shares during the last quarter. Carlson Capital L P bought a new stake in shares of Associated Banc during the second quarter valued at approximately $3,723,000. Avestar Capital LLC bought a new stake in shares of Associated Banc during the second quarter valued at approximately $150,000. Arizona State Retirement System increased its position in shares of Associated Banc by 0.8% during the second quarter. Arizona State Retirement System now owns 118,958 shares of the bank’s stock valued at $2,515,000 after purchasing an additional 953 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Associated Banc by 26.3% during the second quarter. First Trust Advisors LP now owns 446,140 shares of the bank’s stock valued at $9,431,000 after purchasing an additional 92,764 shares during the period. Institutional investors own 74.93% of the company’s stock.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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