Stevens Capital Management LP raised its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 50.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,197 shares of the bank’s stock after buying an additional 8,157 shares during the quarter. Stevens Capital Management LP’s holdings in Associated Banc-Corp were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of ASB. Morgan Dempsey Capital Management LLC grew its position in Associated Banc-Corp by 40.5% during the second quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Associated Banc-Corp by 10.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after buying an additional 549 shares in the last quarter. Meeder Asset Management Inc. grew its position in Associated Banc-Corp by 393.4% during the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after buying an additional 5,838 shares in the last quarter. Flinton Capital Management LLC grew its position in Associated Banc-Corp by 73.4% during the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after buying an additional 3,360 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in Associated Banc-Corp by 73.6% during the second quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock worth $223,000 after buying an additional 3,754 shares in the last quarter. Institutional investors and hedge funds own 76.86% of the company’s stock.
Several equities research analysts have issued reports on ASB shares. Zacks Investment Research lowered Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 price target on shares of Associated Banc-Corp in a research note on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price target on shares of Associated Banc-Corp in a research note on Friday, August 11th. Barclays PLC lifted their price target on Associated Banc-Corp from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Finally, DA Davidson raised Associated Banc-Corp from an “underperform” rating to a “neutral” rating and set a $21.00 price target for the company in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.82.
In other news, Director William R. Hutchinson sold 4,632 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $25.70, for a total value of $119,042.40. Following the completion of the sale, the director now owns 91,209 shares of the company’s stock, valued at approximately $2,344,071.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $25.25, for a total value of $252,500.00. Following the completion of the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at approximately $3,221,521.25. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
Shares of Associated Banc-Corp (NYSE ASB) opened at $24.30 on Friday. Associated Banc-Corp has a 52 week low of $20.95 and a 52 week high of $26.70. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $3,673.30, a PE ratio of 16.64, a PEG ratio of 2.33 and a beta of 1.20.
Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Associated Banc-Corp had a return on equity of 7.81% and a net margin of 19.54%. The company had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. During the same quarter in the previous year, the company posted $0.31 EPS. analysts expect that Associated Banc-Corp will post 1.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.3828 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date of this dividend is Thursday, November 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 32.88%.
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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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