Dean Investment Associates LLC Maintains Holdings in Associated Banc-Corp (ASB)
Dean Investment Associates LLC continued to hold its stake in shares of Associated Banc-Corp (NYSE:ASB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,754 shares of the bank’s stock at the close of the second quarter. Dean Investment Associates LLC’s holdings in Associated Banc-Corp were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in ASB. Vanguard Group Inc. lifted its stake in shares of Associated Banc-Corp by 6.0% during the first quarter. Vanguard Group Inc. now owns 12,490,743 shares of the bank’s stock valued at $304,775,000 after buying an additional 707,633 shares during the period. State Street Corp lifted its stake in shares of Associated Banc-Corp by 10.4% during the first quarter. State Street Corp now owns 6,785,200 shares of the bank’s stock valued at $165,559,000 after buying an additional 641,800 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Associated Banc-Corp by 4.6% during 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 during the period. Morgan Stanley lifted its stake in shares of Associated Banc-Corp by 64.2% during the first quarter. Morgan Stanley now owns 548,775 shares of the bank’s stock valued at $13,389,000 after buying an additional 214,593 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Associated Banc-Corp by 4.0% during the second quarter. Alliancebernstein L.P. now owns 4,193,941 shares of the bank’s stock valued at $105,687,000 after buying an additional 163,081 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $23.61, for a total transaction of $236,100.00. Following the completion of the sale, the chief executive officer now directly owns 127,585 shares in the company, valued at $3,012,281.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John A. Utz sold 8,054 shares of the firm’s stock in a transaction that occurred 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 owns 44,405 shares of the company’s stock, valued at $1,048,846.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,772 shares of company stock valued at $914,334. 1.80% of the stock is currently owned by corporate insiders.
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Associated Banc-Corp (NYSE:ASB) opened at 22.90 on Friday. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 16.47 and a beta of 1.17. Associated Banc-Corp has a 12 month low of $18.85 and a 12 month high of $26.70. The company’s 50-day moving average is $22.47 and its 200 day moving average is $24.09.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $266.23 million during the quarter, compared to analysts’ expectations of $273.29 million. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. During the same period last year, the company posted $0.31 earnings per share. On average, equities research analysts predict that Associated Banc-Corp will post $1.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is currently 34.53%.
ASB has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $27.00 price objective on shares of Associated Banc-Corp in a research note on Sunday, June 11th. Zacks Investment Research raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, June 21st. BidaskClub downgraded shares of Associated Banc-Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley reissued an “equal weight” rating and set a $25.00 price objective (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.25.
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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