Associated Banc-Corp (NYSE:ASB) CEO Buys $99,764.50 in Stock

Associated Banc-Corp (NYSE:ASB – Get Rating) CEO Andrew J. Harmening bought 4,850 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was bought at an average price of $20.57 per share, for a total transaction of $99,764.50. Following the transaction, the chief executive officer now directly owns 287,394 shares of the company’s stock, valued at $5,911,694.58. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $20.44 on Monday. Associated Banc-Corp has a fifty-two week low of $17.45 and a fifty-two week high of $25.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $3.08 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.03 and a beta of 1.01. The company’s 50 day moving average price is $22.99 and its two-hundred day moving average price is $22.54.

Associated Banc (NYSE:ASB – Get Rating) last issued its earnings results on Thursday, January 26th. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Associated Banc had a net margin of 25.65% and a return on equity of 9.70%. The firm had revenue of $452.94 million for the quarter, compared to analyst estimates of $347.92 million. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities analysts forecast that Associated Banc-Corp will post 2.47 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a $0.21 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.11%. Associated Banc’s dividend payout ratio is currently 35.74%.

Institutional Trading of Associated Banc

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Associated Banc during the fourth quarter worth $36,376,000. FMR LLC lifted its holdings in shares of Associated Banc by 18.9% during the second quarter. FMR LLC now owns 9,742,941 shares of the bank’s stock worth $177,906,000 after purchasing an additional 1,550,652 shares during the period. Millennium Management LLC lifted its holdings in shares of Associated Banc by 750.9% during the second quarter. Millennium Management LLC now owns 1,535,790 shares of the bank’s stock worth $28,044,000 after purchasing an additional 1,355,299 shares during the period. Palisade Asset Management LLC acquired a new position in shares of Associated Banc during the fourth quarter worth $25,789,000. Finally, BlackRock Inc. lifted its holdings in shares of Associated Banc by 2.9% during the third quarter. BlackRock Inc. now owns 18,660,033 shares of the bank’s stock worth $374,694,000 after purchasing an additional 523,996 shares during the period. Institutional investors and hedge funds own 78.95% of the company’s stock.

About Associated Banc

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Associated Banc-Corp. is a holding company, which engages in banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.