Quantitative Investment Management LLC acquired a new stake in Associated Banc-Corp (NYSE:ASB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 47,200 shares of the company’s stock, valued at approximately $924,000.
A number of other large investors also recently modified their holdings of ASB. Geode Capital Management LLC boosted its stake in shares of Associated Banc-Corp by 2.3% in the first quarter. Geode Capital Management LLC now owns 953,043 shares of the company’s stock valued at $17,097,000 after buying an additional 21,282 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Associated Banc-Corp during the first quarter valued at $835,000. BNP Paribas Arbitrage SA boosted its stake in shares of Associated Banc-Corp by 248.3% in the second quarter. BNP Paribas Arbitrage SA now owns 76,786 shares of the company’s stock valued at $1,317,000 after buying an additional 54,741 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Associated Banc-Corp during the second quarter valued at $10,573,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock valued at $203,000 after buying an additional 3,889 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors.
Associated Banc-Corp (NYSE:ASB) opened at 23.00 on Friday. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $23.60. The stock’s 50 day moving average price is $20.69 and its 200-day moving average price is $19.09. The company has a market cap of $3.42 billion, a PE ratio of 19.33 and a beta of 1.18.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Associated Banc-Corp had a net margin of 16.55% and a return on equity of 6.46%. During the same period last year, the firm posted $0.31 EPS. On average, analysts forecast that Associated Banc-Corp will post $1.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.12 dividend. The ex-dividend date is Tuesday, November 29th. This is a positive change from Associated Banc-Corp’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 2.09%. Associated Banc-Corp’s dividend payout ratio (DPR) is currently 36.98%.
Several equities research analysts have weighed in on ASB shares. Jefferies Group reissued a “buy” rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Barclays PLC upped their target price on Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, September 13th. DA Davidson began coverage on Associated Banc-Corp in a research note on Monday, October 3rd. They set an “underperform” rating and a $18.00 target price on the stock. Finally, Deutsche Bank AG upped their target price on Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.29.
In related news, insider John A. Utz sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $19.54, for a total value of $39,080.00. Following the transaction, the insider now directly owns 44,290 shares of the company’s stock, valued at approximately $865,426.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Yee sold 4,350 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $20.13, for a total transaction of $87,565.50. Following the completion of the transaction, the insider now directly owns 58,035 shares in the company, valued at $1,168,244.55. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.
About Associated Banc-Corp
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 nonbanking 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.