Aperio Group LLC Buys 7,316 Shares of Associated Banc-Corp (ASB)
Aperio Group LLC increased its stake in Associated Banc-Corp (NYSE:ASB) by 19.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,854 shares of the bank’s stock after buying an additional 7,316 shares during the period. Aperio Group LLC’s holdings in Associated Banc-Corp were worth $1,130,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in shares of 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 last quarter. Chicago Partners Investment Group LLC increased its position in shares of 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 last quarter. Nomura Holdings Inc. acquired a new position in shares of Associated Banc-Corp during the first quarter valued at $210,000. Envestnet Asset Management Inc. increased its position in shares of 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 last quarter. Finally, World Asset Management Inc increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Associated Banc-Corp (NYSE:ASB) traded up 0.44% on Wednesday, reaching $22.70. The company had a trading volume of 201,517 shares. The company has a market capitalization of $3.44 billion, a PE ratio of 16.33 and a beta of 1.16. The company’s 50-day moving average is $24.16 and its 200-day moving average is $24.65. Associated Banc-Corp has a 52-week low of $18.74 and a 52-week high of $26.70.
Associated Banc-Corp (NYSE:ASB) last posted its earnings results on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $266.23 million for the quarter, compared to the consensus estimate of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same period in the previous year, the business earned $0.31 earnings per share. Equities analysts anticipate that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 2.12%. Associated Banc-Corp’s payout ratio is 34.53%.
Several research analysts have recently weighed in on ASB shares. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, June 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 target price (up from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a research note on Sunday, June 11th. Piper Jaffray Companies set a $25.00 target price on Associated Banc-Corp and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.00.
In other Associated Banc-Corp news, insider John A. Utz sold 8,054 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.62, for a total transaction of $190,235.48. Following the sale, the insider now directly owns 44,405 shares in the company, valued at $1,048,846.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the sale, the insider now owns 30,479 shares in the company, valued at $717,780.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,772 shares of company stock worth $914,334. 1.80% of the stock is owned by company insiders.
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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