Associated Banc (NYSE:ASB – Get Rating) released quarterly earnings data on Thursday. The bank reported EPS of $0.70 for the quarter, beating analysts’ consensus forecast of $0.65 by $0.05, according to a report from Briefing.com. Associated Banc had a net profit margin of 26.57% and a return on equity of 8.85%. The business generated $452.94 million in revenue for the quarter, compared with analyst estimates of $347.92 million. During the same quarter last year, the business earned him $0.49 per share.
Price performance of relevant banks
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NYSE:ASB fell $0.25 to reach $22.29 during Friday’s trading hours. The company had a trading volume of 319,029 shares and an average trading volume of his 1,269,218 shares. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt to equity ratio of 1.07. His 50-day moving average for this stock is $23.13 and its 200-day moving average is $21.88. Associated Banc has a one-year low of $17.45 and a one-year high of $25.78. The company has a market capitalization of $3.35 billion, a PE ratio of 10.53, a PEG ratio of 1.17 and a beta of 1.02.
Wall Street analyst opinion
Several equity analysts recently published reports on the company. Bank of America upgraded Associated Banc’s rating from ‘underperforming’ to ‘neutral’ and set a price target at his $24.00 in its research notes on Tuesday, Oct. 25. StockNews.com began covering Associated Banc in a research note on Wednesday, October 12th. They issued a “pending” rating to the company.
Insider trading at Associated Bank
In other Associated Banc news, EVP David L. Stein sold 12,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares sold for an average of $24.32, and the total transaction value he had was $291,840.00. Following the sale, the Executive Vice President now directly owns 70,485 shares of the Company’s stock valued at $1,714,195.20. The sale was disclosed in legal filings with the U.S. Securities and Exchange Commission available at this link. In related news, insider Tammy C. Stadler sold 10,941 shares in the company in a transaction that took place on Tuesday, November 22nd. The shares sold at an average price of $24.68, giving him a total of $270,023.88. Following the closing of the transaction, the insider now owns his 57,510 shares in the company, valued at approximately $1,419,346.80. The transaction was disclosed in filings with the Securities and Exchange Commission, which can be accessed on the SEC’s website. EVP David L. Stein also sold 12,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $24.32, giving him a total of $291,840.00. Following the sale, the Executive Vice President now directly owns 70,485 shares of the Company’s stock valued at $1,714,195.20. Please see here for the disclosure of this sale. A company insider owns his 3.04% of the company’s shares.
Hedge funds focus on relevant banks
Large investors are buying and selling shares in businesses these days. Renaissance Technologies LLC increased his position in Associated Banc stock by 2,414.0% in the first quarter. Renaissance Technologies LLC now owns 475,931 bank shares worth $10,832,000 after acquiring an additional 457,000 of his shares during the previous quarter. Vanguard Group Inc. increased its position in Associated Bank stock by 2.2% in the third quarter. Vanguard Group Inc. now owns 15,302,572 bank shares worth $37277,000 after purchasing an additional 328,137 shares during this period. Goldman Sachs Group Inc. increased its Associated Bank holdings by 7.2% in the second quarter. Goldman Sachs Group Inc. owns 2,678,012 bank shares worth $48,901,000 after purchasing an additional 180,542 shares during this period. BlackRock Inc. increased its Associated Banc stake by 1.0% in the first quarter. BlackRock Inc. now owns 17,712,813 bank shares worth $43145,000 after purchasing an additional 172,329 shares in the previous quarter. Finally, Alliancebernstein LP increased its stake in Associated Banc by 4.7% in the third quarter. After purchasing an additional 120,336 shares during this period, Alliancebernstein LP now owns 2,658,824 bank shares worth $53,389,000. Currently 78.95% of the shares are owned by institutional investors and hedge funds.
Affiliated bank company profile
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Affiliated Bank Corporation. It operates as a bank holding company that provides various bank and non-bank financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate & Commercial Specialties, Community, Consumer & Business, and Risk Management & Shared Services.
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