Citigroup Inc. Has $407,000 Holdings in Associated Banc-Corp (ASB)
Citigroup Inc. raised its position in shares of Associated Banc-Corp (NYSE:ASB) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,135 shares of the bank’s stock after purchasing an additional 155 shares during the period. Citigroup Inc.’s holdings in Associated Banc-Corp were worth $407,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC boosted its stake in Associated Banc-Corp by 40.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock valued at $140,000 after purchasing an additional 1,597 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Associated Banc-Corp by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock valued at $149,000 after purchasing an additional 549 shares during the period. Nomura Holdings Inc. acquired a new position in Associated Banc-Corp during the 1st quarter valued at about $210,000. Riverhead Capital Management LLC boosted its stake in Associated Banc-Corp by 73.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock valued at $223,000 after purchasing an additional 3,754 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Associated Banc-Corp by 14.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,195 shares of the bank’s stock valued at $224,000 after purchasing an additional 1,147 shares during the period. 77.47% of the stock is owned by hedge funds and other institutional investors.
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In other news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $23.61, for a total value of $236,100.00. Following the transaction, the chief executive officer now owns 127,585 shares of the company’s stock, valued at approximately $3,012,281.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 38,772 shares of company stock valued at $914,334 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.
A number of research firms have issued reports on ASB. Keefe, Bruyette & Woods reissued a “neutral” rating on shares of Associated Banc-Corp in a research note on Friday, September 22nd. BidaskClub lowered shares of Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 30th. Royal Bank Of Canada reissued a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 7th. Piper Jaffray Companies set a $25.00 target price on shares of Associated Banc-Corp and gave the company a “hold” rating in a research note on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Associated Banc-Corp has an average rating of “Hold” and an average price target of $25.20.
Shares of Associated Banc-Corp (ASB) opened at 24.40 on Monday. The stock has a 50 day moving average of $23.24 and a 200-day moving average of $23.98. Associated Banc-Corp has a 52 week low of $19.00 and a 52 week high of $26.70. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.55 and a beta of 1.19.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The firm 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 quarter last year, the company posted $0.31 EPS. Analysts expect that Associated Banc-Corp will post $1.43 earnings per share for the current year.
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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