Insider Selling: Associated Banc Corp (ASB) CFO Sells 9,881 Shares of Stock

Associated Banc Corp (NYSE:ASB) CFO Moral-Niles Christopher Del sold 9,881 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $23.17, for a total value of $228,942.77. Following the transaction, the chief financial officer now directly owns 69,682 shares in the company, valued at approximately $1,614,531.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Moral-Niles Christopher Del also recently made the following trade(s):

  • On Friday, December 14th, Moral-Niles Christopher Del sold 2,239 shares of Associated Banc stock. The shares were sold at an average price of $20.86, for a total value of $46,705.54.

ASB traded up $0.10 during midday trading on Tuesday, reaching $23.34. The company’s stock had a trading volume of 814,100 shares, compared to its average volume of 1,435,673. The firm has a market capitalization of $3.85 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. Associated Banc Corp has a twelve month low of $18.53 and a twelve month high of $29.02.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $311.13 million. Associated Banc had a return on equity of 9.79% and a net margin of 22.09%. During the same quarter last year, the firm posted $0.31 EPS. As a group, analysts anticipate that Associated Banc Corp will post 2.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, February 28th. Associated Banc’s payout ratio is presently 33.50%.

Large investors have recently made changes to their positions in the company. Fort L.P. acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $25,000. Pearl River Capital LLC acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $43,000. Toronto Dominion Bank acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $70,000. Cerebellum GP LLC acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $107,000. Finally, CWM LLC grew its holdings in shares of Associated Banc by 19,418.2% during the 4th quarter. CWM LLC now owns 8,588 shares of the bank’s stock worth $170,000 after purchasing an additional 8,544 shares in the last quarter. 76.87% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on ASB shares. Royal Bank of Canada lowered their price objective on Associated Banc to $24.00 and set a “sector perform” rating on the stock in a report on Friday, January 25th. Raymond James lowered Associated Banc from a “mkt perform” rating to an “underperform” rating in a report on Monday, January 7th. Jefferies Financial Group raised Associated Banc from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, January 8th. Zacks Investment Research reaffirmed a “hold” rating on shares of Associated Banc in a report on Monday, November 12th. Finally, Barclays reaffirmed a “hold” rating and issued a $25.00 target price on shares of Associated Banc in a report on Friday, January 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Associated Banc has a consensus rating of “Hold” and a consensus price target of $25.60.

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About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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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Insider Buying and Selling by Quarter for Associated Banc (NYSE:ASB)

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