David L. Stein Sells 18,500 Shares of Associated Banc-Corp (ASB) Stock

David L. Stein Sells 18,500 Shares of Associated Banc-Corp (ASB) Stock

Associated Banc-Corp (NYSE:ASB) insider David L. Stein sold 18,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $25.06, for a total value of $463,610.00. Following the sale, the insider now owns 44,063 shares of the company’s stock, valued at approximately $1,104,218.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Associated Banc-Corp (NYSE:ASB) opened at 25.20 on Monday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 20.00 and a beta of 1.18. The stock has a 50 day moving average price of $24.99 and a 200-day moving average price of $21.44. Associated Banc-Corp has a 12-month low of $15.72 and a 12-month high of $26.00.

Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 19th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Associated Banc-Corp had a return on equity of 6.81% and a net margin of 17.31%. During the same period in the prior year, the company earned $0.27 earnings per share. Equities analysts forecast that Associated Banc-Corp will post $1.41 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASB. JPMorgan Chase & Co. boosted its stake in shares of Associated Banc-Corp by 3.9% in the third quarter. JPMorgan Chase & Co. now owns 4,262,112 shares of the company’s stock worth $83,495,000 after buying an additional 160,953 shares during the last quarter. Foundry Partners LLC boosted its position in shares of Associated Banc-Corp by 5.0% in the third quarter. Foundry Partners LLC now owns 647,345 shares of the company’s stock valued at $12,681,000 after buying an additional 30,850 shares during the period. BlackRock Fund Advisors boosted its position in shares of Associated Banc-Corp by 3.5% in the third quarter. BlackRock Fund Advisors now owns 5,566,760 shares of the company’s stock valued at $109,053,000 after buying an additional 190,423 shares during the period. Rhumbline Advisers boosted its position in shares of Associated Banc-Corp by 3.3% in the third quarter. Rhumbline Advisers now owns 242,755 shares of the company’s stock valued at $4,756,000 after buying an additional 7,848 shares during the period. Finally, US Bancorp DE boosted its position in shares of Associated Banc-Corp by 14.1% in the third quarter. US Bancorp DE now owns 214,657 shares of the company’s stock valued at $4,205,000 after buying an additional 26,485 shares during the period. 74.69% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the company. Piper Jaffray Companies assumed coverage on Associated Banc-Corp in a research note on Thursday, January 12th. They set a “neutral” rating and a $25.50 target price for the company. SunTrust Banks, Inc. assumed coverage on Associated Banc-Corp in a research note on Tuesday, December 20th. They set a “hold” rating and a $26.00 target price for the company. JMP Securities assumed coverage on Associated Banc-Corp in a research note on Thursday. They set a “market perform” rating for the company. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, January 3rd. Finally, Bank of America Corporation upgraded Associated Banc-Corp from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $26.00 in a research note on Thursday, December 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.50.

Associated Banc-Corp Company Profile

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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