World Asset Management Inc Increases Position in Associated Banc-Corp (ASB)
World Asset Management Inc boosted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,629 shares of the bank’s stock after buying an additional 236 shares during the period. World Asset Management Inc’s holdings in Associated Banc-Corp were worth $243,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position 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 valued at $126,315,000 after buying an additional 228,539 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Associated Banc-Corp by 2.5% in the first quarter. Retirement Systems of Alabama now owns 195,982 shares of the bank’s stock valued at $4,782,000 after buying an additional 4,768 shares in the last quarter. Alpha Windward LLC boosted its position in shares of Associated Banc-Corp by 1.6% in the second quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock valued at $467,000 after buying an additional 300 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Associated Banc-Corp by 9.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 767,468 shares of the bank’s stock valued at $18,727,000 after buying an additional 65,509 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Associated Banc-Corp by 49.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 33,592 shares of the bank’s stock valued at $819,000 after buying an additional 11,086 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 21.80 on Friday. Associated Banc-Corp has a one year low of $18.74 and a one year high of $26.70. The stock has a market capitalization of $3.31 billion, a P/E ratio of 15.68 and a beta of 1.16. The stock’s 50 day moving average price is $23.92 and its 200 day moving average price is $24.59.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The business had revenue of $266.23 million during the quarter, compared to analysts’ expectations of $273.29 million. During the same period in the previous year, the firm earned $0.31 earnings per share. On average, analysts forecast that Associated Banc-Corp will post $1.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid 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 dividend yield of 2.20%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 34.53%.
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ASB has been the subject of several research reports. Zacks Investment Research cut Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a report on Friday, July 7th. Piper Jaffray Companies set a $25.00 target price on Associated Banc-Corp and gave the company a “hold” rating in a report on Saturday, July 22nd. Finally, BidaskClub downgraded Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. 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 company’s stock. Associated Banc-Corp has an average 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 business’s stock in a transaction dated Tuesday, August 8th. The stock was 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 of the company’s stock, valued at $717,780.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eileen A. Kamerick sold 4,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $23.57, for a total value of $106,065.00. Following the completion of the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at $636,484.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,772 shares of company stock valued at $914,334. 1.80% of the stock is owned by 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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