Associated Banc-Corp (ASB) Shares Sold by Associated Banc Corp
Associated Banc Corp cut its stake in Associated Banc-Corp (NYSE:ASB) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,694,538 shares of the bank’s stock after selling 47,152 shares during the period. Associated Banc comprises approximately 3.6% of Associated Banc Corp’s holdings, making the stock its 2nd largest holding. Associated Banc Corp owned approximately 1.78% of Associated Banc worth $65,342,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Dempsey Capital Management LLC raised its holdings in shares of Associated Banc by 40.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Associated Banc by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after acquiring an additional 549 shares during the last quarter. Meeder Asset Management Inc. grew its position in Associated Banc by 393.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after acquiring an additional 5,838 shares during the last quarter. Flinton Capital Management LLC grew its position in Associated Banc by 73.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after acquiring an additional 3,360 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its position in Associated Banc by 73.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock worth $223,000 after acquiring an additional 3,754 shares during the last quarter. 76.51% of the stock is owned by institutional investors and hedge funds.
In other Associated Banc news, Director William R. Hutchinson sold 4,632 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $25.70, for a total value of $119,042.40. Following the transaction, the director now directly owns 91,209 shares in the company, valued at approximately $2,344,071.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $25.25, for a total value of $252,500.00. Following the completion of the transaction, the chief executive officer now owns 127,585 shares in the company, valued at $3,221,521.25. The disclosure for this sale can be found here. Insiders sold a total of 38,004 shares of company stock worth $951,573 over the last quarter. Corporate insiders own 1.80% of the company’s stock.
Associated Banc-Corp (NYSE ASB) opened at $26.10 on Thursday. The company has a market capitalization of $3,832.03, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.42 and a beta of 1.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.90 and a quick ratio of 0.89. Associated Banc-Corp has a 12-month low of $20.95 and a 12-month high of $26.70.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The firm had revenue of $276.02 million for the quarter, compared to analyst estimates of $276.88 million. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. During the same period last year, the company earned $0.31 EPS. equities research analysts predict that Associated Banc-Corp will post 1.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.3828 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a yield of 5.87%. Associated Banc’s payout ratio is 32.88%.
A number of equities research analysts recently commented on the company. SunTrust Banks restated a “hold” rating and set a $27.00 price target on shares of Associated Banc in a research report on Wednesday. Jefferies Group restated a “hold” rating and set a $27.00 price target on shares of Associated Banc in a research report on Friday, August 11th. BidaskClub lowered Associated Banc from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Robert W. Baird restated a “hold” rating and set a $25.00 price target on shares of Associated Banc in a research report on Sunday, October 1st. Finally, Zacks Investment Research upgraded Associated Banc from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $25.91.
About Associated Banc
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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