Seaward Management Limited Partnership cut its position in Associated Banc-Corp (NYSE:ASB) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 82,822 shares of the bank’s stock after selling 2,595 shares during the period. Seaward Management Limited Partnership’s holdings in Associated Banc-Corp were worth $2,087,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ASB. Vanguard Group Inc. raised its stake in shares of Associated Banc-Corp by 6.0% in the first quarter. Vanguard Group Inc. now owns 12,490,743 shares of the bank’s stock worth $304,775,000 after buying an additional 707,633 shares during the last quarter. State Street Corp raised its stake in shares of Associated Banc-Corp by 10.4% in the first quarter. State Street Corp now owns 6,785,200 shares of the bank’s stock worth $165,559,000 after buying an additional 641,800 shares during the last quarter. Victory Capital Management Inc. raised its stake 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 during the last quarter. Alliancebernstein L.P. raised its stake in shares of Associated Banc-Corp by 3.5% in the first quarter. Alliancebernstein L.P. now owns 4,030,860 shares of the bank’s stock worth $98,353,000 after buying an additional 134,916 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Associated Banc-Corp by 43.0% in the first quarter. Bank of New York Mellon Corp now owns 3,723,047 shares of the bank’s stock worth $90,843,000 after buying an additional 1,118,865 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Associated Banc-Corp (ASB) opened at 23.30 on Tuesday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 16.76 and a beta of 1.16. Associated Banc-Corp has a 12 month low of $18.33 and a 12 month high of $26.70. The stock’s 50 day moving average price is $24.67 and its 200-day moving average price is $24.79.

Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The firm had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. During the same quarter in the prior year, the firm earned $0.31 EPS. Equities analysts expect that Associated Banc-Corp will post $1.43 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 2.06%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 34.53%.

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ASB has been the subject of a number of analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price target on shares of Associated Banc-Corp in a research note on Sunday, June 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 price target on shares of Associated Banc-Corp in a research note on Friday, July 21st. Zacks Investment Research lowered Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. BidaskClub upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $25.00 price target (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Associated Banc-Corp has an average rating of “Hold” and an average target price of $25.00.

In related news, Director Eileen A. Kamerick sold 4,500 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $23.57, for a total transaction of $106,065.00. Following the completion of the transaction, the director now owns 27,004 shares in the company, valued at approximately $636,484.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John A. Utz sold 8,054 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $23.62, for a total transaction of $190,235.48. Following the transaction, the insider now owns 44,405 shares of the company’s stock, valued at approximately $1,048,846.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,554 shares of company stock valued at $532,400. Insiders own 1.80% 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 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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Institutional Ownership by Quarter for Associated Banc-Corp (NYSE:ASB)

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