Aperio Group LLC increased its holdings in Associated Banc Corp (NYSE:ASB) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,745 shares of the bank’s stock after buying an additional 4,203 shares during the period. Aperio Group LLC’s holdings in Associated Banc were worth $1,709,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Foundry Partners LLC raised its position in shares of Associated Banc by 0.3% during the 3rd quarter. Foundry Partners LLC now owns 725,849 shares of the bank’s stock valued at $18,872,000 after buying an additional 2,042 shares in the last quarter. WoodTrust Financial Corp raised its position in shares of Associated Banc by 78.2% during the 3rd quarter. WoodTrust Financial Corp now owns 14,892 shares of the bank’s stock valued at $388,000 after buying an additional 6,537 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of Associated Banc by 5.6% during the 3rd quarter. Gateway Investment Advisers LLC now owns 360,202 shares of the bank’s stock valued at $9,365,000 after buying an additional 19,000 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Associated Banc during the 3rd quarter valued at $612,000. Finally, Legacy Private Trust Co. raised its position in shares of Associated Banc by 25.6% during the 3rd quarter. Legacy Private Trust Co. now owns 392,381 shares of the bank’s stock valued at $10,202,000 after buying an additional 80,038 shares in the last quarter. 78.72% of the stock is owned by institutional investors.
ASB has been the topic of several research reports. ValuEngine cut shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Morgan Stanley restated a “hold” rating and set a $29.50 price objective (down previously from $30.00) on shares of Associated Banc in a research report on Tuesday, September 18th. Sandler O’Neill cut shares of Associated Banc from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research report on Friday, October 19th. Zacks Investment Research cut shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Wells Fargo & Co set a $27.00 price objective on shares of Associated Banc and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.05.
In related news, CEO Philip B. Flynn sold 10,000 shares of Associated Banc stock in a transaction on Monday, October 29th. The shares were sold at an average price of $22.81, for a total value of $228,100.00. Following the transaction, the chief executive officer now owns 114,684 shares in the company, valued at approximately $2,615,942.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John A. Utz sold 2,341 shares of Associated Banc stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $27.81, for a total transaction of $65,103.21. Following the completion of the transaction, the insider now owns 44,725 shares in the company, valued at approximately $1,243,802.25. The disclosure for this sale can be found here. In the last quarter, insiders purchased 121,000 shares of company stock worth $3,025,000 and sold 17,341 shares worth $431,803. 2.13% of the stock is owned by company insiders.
Shares of NYSE:ASB opened at $23.51 on Friday. The firm has a market capitalization of $3.89 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. Associated Banc Corp has a 52 week low of $22.00 and a 52 week high of $29.02. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.91 and a current ratio of 0.92.
Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 18th. The bank reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The company had revenue of $307.69 million for the quarter, compared to analysts’ expectations of $321.04 million. Associated Banc had a net margin of 20.53% and a return on equity of 9.44%. During the same quarter last year, the company earned $0.34 EPS. As a group, equities analysts forecast that Associated Banc Corp will post 2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, November 30th. This is a boost from Associated Banc’s previous quarterly dividend of $0.15. Associated Banc’s dividend payout ratio (DPR) is presently 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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