Morgan Dempsey Capital Management LLC Has $140,000 Position in Associated Banc-Corp (NYSE:ASB)
Morgan Dempsey Capital Management LLC raised its stake in shares of Associated Banc-Corp (NYSE:ASB) by 40.5% during the second quarter, Holdings Channel reports. The fund owned 5,542 shares of the bank’s stock after buying an additional 1,597 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Associated Banc-Corp were worth $140,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Acrospire Investment Management LLC boosted its stake in Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock valued at $118,000 after buying an additional 1,830 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock valued at $156,000 after buying an additional 30 shares during the period. Nomura Holdings Inc. purchased a new stake in Associated Banc-Corp during the first quarter valued at $210,000. Envestnet Asset Management Inc. boosted its stake in Associated Banc-Corp by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,195 shares of the bank’s stock valued at $224,000 after buying an additional 1,147 shares during the period. Finally, World Asset Management Inc boosted its stake in Associated Banc-Corp by 3.5% in the first quarter. World Asset Management Inc now owns 9,393 shares of the bank’s stock valued at $229,000 after buying an additional 317 shares during the period. 78.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 22.45 on Friday. Associated Banc-Corp has a 12-month low of $18.74 and a 12-month high of $26.70. The firm has a market capitalization of $3.40 billion, a PE ratio of 16.15 and a beta of 1.16. The firm has a 50-day moving average of $24.31 and a 200-day moving average of $24.72.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The business had revenue of $266.23 million during the quarter, compared to analyst estimates of $273.29 million. During the same period in the prior year, the business earned $0.31 EPS. Equities analysts anticipate that Associated Banc-Corp will post $1.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.48 annualized dividend and a yield of 2.14%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 34.53%.
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Several research firms have recently weighed in on ASB. Royal Bank Of Canada reiterated a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research report on Friday, July 7th. BidaskClub upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating and set a $27.00 price objective on shares of Associated Banc-Corp in a research report on Sunday, June 11th. Zacks Investment Research cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $25.00 price objective (up from $24.00) on shares of Associated Banc-Corp in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.00.
In other Associated Banc-Corp news, insider Christopher C. Piotrowski sold 16,218 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the transaction, the insider now directly owns 30,479 shares in the company, valued at approximately $717,780.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.61, for a total transaction of $236,100.00. Following the completion of the transaction, the chief executive officer now owns 127,585 shares of the company’s stock, valued at $3,012,281.85. The disclosure for this sale can be found here. Insiders sold a total of 38,772 shares of company stock valued at $914,334 over the last 90 days. Company 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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