Bank of Montreal Can lessened its position in Associated Banc Corp (NYSE:ASB) by 27.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,190 shares of the bank’s stock after selling 32,038 shares during the quarter. Bank of Montreal Can owned 0.06% of Associated Banc worth $2,113,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in Associated Banc by 1.5% during the third quarter. California Public Employees Retirement System now owns 409,934 shares of the bank’s stock worth $9,941,000 after acquiring an additional 6,249 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Associated Banc in the 3rd quarter valued at about $677,000. Pzena Investment Management LLC grew its holdings in Associated Banc by 2.9% in the 3rd quarter. Pzena Investment Management LLC now owns 2,433,590 shares of the bank’s stock valued at $59,015,000 after buying an additional 68,380 shares during the period. Foundry Partners LLC grew its holdings in Associated Banc by 3.3% in the 3rd quarter. Foundry Partners LLC now owns 728,559 shares of the bank’s stock valued at $17,668,000 after buying an additional 23,204 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in Associated Banc in the 3rd quarter valued at about $402,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.
In other news, insider Christopher C. Piotrowski sold 10,726 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $24.75, for a total value of $265,468.50. Following the sale, the insider now directly owns 24,209 shares in the company, valued at $599,172.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Moral-Niles Christopher Del sold 11,999 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $24.72, for a total value of $296,615.28. Following the sale, the chief financial officer now owns 81,092 shares in the company, valued at approximately $2,004,594.24. The disclosure for this sale can be found here. Insiders sold a total of 101,382 shares of company stock valued at $2,538,378 over the last three months. Insiders own 1.80% of the company’s stock.
A number of analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, January 31st. Piper Jaffray Companies reissued a “hold” rating and issued a $27.00 price target on shares of Associated Banc in a research note on Tuesday, January 9th. Barclays increased their price target on Associated Banc from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc in a research note on Wednesday, November 29th. Finally, Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Associated Banc presently has a consensus rating of “Hold” and a consensus price target of $26.30.
Shares of Associated Banc Corp (NYSE ASB) traded up $0.05 during trading on Monday, reaching $24.90. The company had a trading volume of 1,210,900 shares, compared to its average volume of 1,478,539. Associated Banc Corp has a 1 year low of $20.95 and a 1 year high of $26.70. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market cap of $3,777.03, a P/E ratio of 17.41, a P/E/G ratio of 2.01 and a beta of 1.08.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). The firm had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $281.38 million. Associated Banc had a return on equity of 8.05% and a net margin of 18.80%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. research analysts forecast that Associated Banc Corp will post 1.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.15 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, February 28th. Associated Banc’s dividend payout ratio (DPR) is 39.16%.
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About Associated Banc
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.
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