Louisiana State Employees Retirement System increased its position in Associated Banc-Corp (NYSE:ASB) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,700 shares of the bank’s stock after buying an additional 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Associated Banc-Corp were worth $1,000,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ASB. Victory Capital Management Inc. raised its position in shares of Associated Banc-Corp by 4.6% in the first quarter. Victory Capital Management Inc. now owns 5,176,832 shares of the bank’s stock worth $126,315,000 after buying an additional 228,539 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Associated Banc-Corp by 2.5% in the first quarter. Retirement Systems of Alabama now owns 195,982 shares of the bank’s stock worth $4,782,000 after buying an additional 4,768 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Associated Banc-Corp by 49.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 33,592 shares of the bank’s stock worth $819,000 after buying an additional 11,086 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Associated Banc-Corp by 1.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 68,620 shares of the bank’s stock worth $1,674,000 after buying an additional 950 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. raised its position in shares of Associated Banc-Corp by 71.9% in the first quarter. Waratah Capital Advisors Ltd. now owns 61,221 shares of the bank’s stock worth $1,494,000 after buying an additional 25,617 shares in the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.
Associated Banc-Corp (NYSE ASB) opened at 23.60 on Friday. The firm’s 50-day moving average is $24.75 and its 200 day moving average is $24.81. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 16.98 and a beta of 1.17. Associated Banc-Corp has a 52-week low of $18.23 and a 52-week high of $26.70.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The firm had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. During the same period last year, the company earned $0.31 earnings per share. On average, equities research analysts predict that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s payout ratio is 34.53%.
ASB has been the subject of a number of research reports. Zacks Investment Research lowered shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Jefferies Group LLC restated a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 14th. Piper Jaffray Companies set a $25.00 target price on shares of Associated Banc-Corp and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Royal Bank Of Canada restated a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 7th. Finally, BidaskClub lowered shares of Associated Banc-Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $25.00.
In other Associated Banc-Corp news, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $24.81, for a total value of $248,100.00. Following the completion of the transaction, the chief executive officer now owns 127,585 shares in the company, valued at $3,165,383.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Associated Banc-Corp Company Profile
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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