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Associated Banc Corp (ASB) CEO Philip B. Flynn Sells 10,000 Shares – Momentous News
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Associated Banc Corp (ASB) CEO Philip B. Flynn Sells 10,000 Shares

Associated Banc Corp logoAssociated Banc Corp (NYSE:ASB) CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $24.81, for a total transaction of $248,100.00. Following the transaction, the chief executive officer now owns 127,585 shares in the company, valued at approximately $3,165,383.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Associated Banc Corp (NYSE:ASB) traded down 0.61% during trading on Friday, reaching $24.60. 538,358 shares of the company traded hands. Associated Banc Corp has a 52 week low of $15.72 and a 52 week high of $26.70. The company’s 50-day moving average price is $24.46 and its 200 day moving average price is $24.20. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 18.36 and a beta of 1.18.

Associated Banc Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Associated Banc Corp had a return on equity of 6.81% and a net margin of 17.31%. The firm had revenue of $260.11 million during the quarter, compared to analysts’ expectations of $266.24 million. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts expect that Associated Banc Corp will post $1.45 EPS for the current year.

Insider Buying and Selling by Quarter for Associated Banc Corp (NYSE:ASB)

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, May 30th. Associated Banc Corp’s payout ratio is 38.10%.

TRADEMARK VIOLATION NOTICE: This story was published by Markets Daily and is the sole property of of Markets Daily. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.themarketsdaily.com/2017/05/13/associated-banc-corp-asb-ceo-philip-b-flynn-sells-10000-shares-of-stock-updated.html.

ASB has been the subject of several recent analyst reports. SunTrust Banks, Inc. upgraded shares of Associated Banc Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 29th. Barclays PLC upped their target price on shares of Associated Banc Corp to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, January 20th. Zacks Investment Research lowered shares of Associated Banc Corp from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 target price on shares of Associated Banc Corp in a research note on Tuesday, April 4th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 target price on shares of Associated Banc Corp in a research note on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Associated Banc Corp currently has an average rating of “Hold” and a consensus price target of $24.72.

Hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Associated Banc Corp during the fourth quarter valued at approximately $556,000. Norges Bank purchased a new stake in shares of Associated Banc Corp during the fourth quarter valued at approximately $50,013,000. BlackRock Fund Advisors boosted its stake in shares of Associated Banc Corp by 3.5% in the third quarter. BlackRock Fund Advisors now owns 5,566,760 shares of the bank’s stock valued at $109,053,000 after buying an additional 190,423 shares during the last quarter. State Street Corp boosted its stake in shares of Associated Banc Corp by 12.4% in the fourth quarter. State Street Corp now owns 6,143,400 shares of the bank’s stock valued at $151,739,000 after buying an additional 679,733 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Associated Banc Corp by 54.6% in the fourth quarter. Guggenheim Capital LLC now owns 122,227 shares of the bank’s stock valued at $3,019,000 after buying an additional 43,185 shares during the last quarter. Hedge funds and other institutional investors own 75.96% 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 non-banking 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.

5 Day Chart for NYSE:ASB

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