ASB has been the subject of several other research reports. Zacks Investment Research upgraded Associated Banc-Corp from a sell rating to a hold rating in a research note on Wednesday, June 22nd. Jefferies Group restated a buy rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Finally, Barclays PLC boosted their price target on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an equal weight rating in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $19.38.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.47 on Monday. The company has a market cap of $2.89 billion, a P/E ratio of 16.78 and a beta of 1.32. The stock’s 50 day moving average price is $19.57 and its 200-day moving average price is $18.34. Associated Banc-Corp has a 12 month low of $15.45 and a 12 month high of $20.90.
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 Thomson Reuters’ consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%. Equities research analysts expect that Associated Banc-Corp will post $1.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 37.93%.
In other Associated Banc-Corp news, 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 completion of the sale, 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 accessible through this link. Also, Director John B. Williams purchased 2,000 shares of Associated Banc-Corp stock in a transaction on Thursday, September 8th. The stock was bought at an average price of $19.85 per share, with a total value of $39,700.00. The disclosure for this purchase can be found here. Corporate insiders own 2.09% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Associated Banc-Corp during the fourth quarter worth approximately $38,369,000. Aperio Group LLC boosted its stake in shares of Associated Banc-Corp by 16.5% in the first quarter. Aperio Group LLC now owns 37,898 shares of the company’s stock worth $680,000 after buying an additional 5,369 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Associated Banc-Corp by 5.7% in the first quarter. Teachers Advisors Inc. now owns 285,383 shares of the company’s stock worth $5,120,000 after buying an additional 15,356 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Associated Banc-Corp by 14.3% in the first quarter. Prudential Financial Inc. now owns 862,581 shares of the company’s stock worth $15,475,000 after buying an additional 108,154 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Associated Banc-Corp by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 10,026 shares of the company’s stock worth $180,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
About Associated Banc-Corp
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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