Xact Kapitalforvaltning AB bought a new stake in Associated Banc-Corp (NYSE:ASB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,362 shares of the bank’s stock, valued at approximately $365,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in ASB. Landaas & Co. WI ADV raised its stake in Associated Banc by 98.8% in the fourth quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock valued at $107,000 after purchasing an additional 2,091 shares in the last quarter. QS Investors LLC raised its stake in Associated Banc by 1,369.9% in the fourth quarter. QS Investors LLC now owns 5,027 shares of the bank’s stock valued at $128,000 after purchasing an additional 4,685 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Associated Banc in the third quarter valued at approximately $157,000. Savant Capital LLC purchased a new stake in Associated Banc in the fourth quarter valued at approximately $202,000. Finally, JOYN Advisors Inc. purchased a new stake in Associated Banc in the fourth quarter valued at approximately $209,000. 77.51% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Associated Banc from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Piper Jaffray reaffirmed a “hold” rating and issued a $27.00 target price on shares of Associated Banc in a research note on Tuesday, January 9th. Barclays raised their target price on shares of Associated Banc from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, January 2nd. Finally, Morgan Stanley raised their target price on shares of Associated Banc from $25.50 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $26.30.
In other Associated Banc news, EVP John A. Utz sold 12,865 shares of Associated Banc stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $26.75, for a total transaction of $344,138.75. Following the transaction, the executive vice president now directly owns 42,384 shares of the company’s stock, valued at $1,133,772. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David L. Stein sold 15,400 shares of Associated Banc stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $25.40, for a total transaction of $391,160.00. Following the transaction, the insider now directly owns 36,685 shares in the company, valued at $931,799. The disclosure for this sale can be found here. Insiders have sold 143,018 shares of company stock worth $3,633,598 over the last three months. Insiders own 2.13% of the company’s stock.
ASB stock opened at $24.30 on Friday. The company has a market cap of $3,686.02, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Associated Banc-Corp has a one year low of $20.95 and a one year high of $27.20. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.07). The business 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 company’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. analysts anticipate that Associated Banc-Corp will post 1.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 28th. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. Associated Banc’s dividend payout ratio (DPR) is 39.47%.
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Associated Banc Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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