Associated Banc-Corp (ASB) Shares Bought by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. boosted its position in shares of Associated Banc-Corp (NYSE:ASB) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,466 shares of the company’s stock after buying an additional 343 shares during the period. First Citizens Bank & Trust Co.’s holdings in Associated Banc-Corp were worth $499,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock worth $203,000 after buying an additional 3,889 shares during the period. Oakbrook Investments LLC purchased a new stake in Associated Banc-Corp during the second quarter worth approximately $264,000. Retirement Systems of Alabama boosted its stake in Associated Banc-Corp by 0.3% in the second quarter. Retirement Systems of Alabama now owns 193,670 shares of the company’s stock worth $3,321,000 after buying an additional 632 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Associated Banc-Corp during the second quarter worth approximately $347,000. Finally, Ameriprise Financial Inc. boosted its stake in Associated Banc-Corp by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 754,480 shares of the company’s stock worth $12,940,000 after buying an additional 4,069 shares during the period. Institutional investors own 75.17% of the company’s stock.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 1.62% during mid-day trading on Friday, reaching $25.15. The company’s stock had a trading volume of 587,715 shares. The firm has a market cap of $3.74 billion, a P/E ratio of 21.13 and a beta of 1.21. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $25.43. The firm’s 50-day moving average price is $24.48 and its 200 day moving average price is $20.65.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Associated Banc-Corp had a return on equity of 6.46% and a net margin of 16.55%. During the same quarter last year, the company posted $0.31 earnings per share. On average, analysts expect that Associated Banc-Corp will post $1.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a dividend of $0.12 per share. 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 dividend yield of 1.91%. The ex-dividend date was Tuesday, November 29th. Associated Banc-Corp’s dividend payout ratio (DPR) is currently 40.34%.
A number of analysts recently commented on ASB shares. DA Davidson started coverage on Associated Banc-Corp in a research report on Monday, October 3rd. They set an “underperform” rating and a $18.00 price objective for the company. Zacks Investment Research cut Associated Banc-Corp from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Deutsche Bank AG upped their price objective on Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Jefferies Group cut Associated Banc-Corp from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Monday, November 28th. Finally, Barclays PLC upped their price objective on Associated Banc-Corp from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.85.
In related news, insider Breck F. Hanson sold 4,989 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $20.19, for a total transaction of $100,727.91. Following the completion of the sale, the insider now directly owns 16,997 shares of the company’s stock, valued at approximately $343,169.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William M. Bohn sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $22.53, for a total value of $112,650.00. Following the sale, the insider now directly owns 37,865 shares of the company’s stock, valued at $853,098.45. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.
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.
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