Oakbrook Investments LLC acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,130 shares of the bank’s stock, valued at approximately $270,000.
Other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in shares of Associated Banc-Corp by 47.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 57,517 shares of the bank’s stock worth $1,449,000 after acquiring an additional 18,435 shares in the last quarter. Wells Fargo & Company MN raised its position in Associated Banc-Corp by 2.2% in the second quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock valued at $46,389,000 after purchasing an additional 38,996 shares during the period. Vanguard Group Inc. grew its stake in Associated Banc-Corp by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock worth $321,025,000 after purchasing an additional 248,381 shares in the last quarter. Alpha Windward LLC boosted its stake in 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 acquiring an additional 300 shares during the period. Finally, State of Tennessee Treasury Department raised its holdings in shares of Associated Banc-Corp by 20.0% during the second quarter. State of Tennessee Treasury Department now owns 240,000 shares of the bank’s stock valued at $6,048,000 after buying an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 76.86% of the company’s stock.
Several equities analysts have recently commented on the stock. SunTrust Banks, Inc. set a $26.00 target price on shares of Associated Banc-Corp and gave the company a “hold” rating in a research report on Saturday, October 21st. Barclays PLC increased their price target on shares of Associated Banc-Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $26.00 price target on shares of Associated Banc-Corp in a research report on Friday, July 21st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $28.00 price objective on shares of Associated Banc-Corp in a research note on Thursday, October 12th. One investment 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 a consensus price target of $25.82.
In other Associated Banc-Corp news, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $25.25, for a total transaction of $252,500.00. Following the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at $3,221,521.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Hutchinson sold 4,632 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were 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 of the company’s stock, valued at approximately $2,344,071.30. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Associated Banc-Corp (ASB) traded up $0.10 during mid-day trading on Tuesday, hitting $24.30. 743,900 shares of the company traded hands, compared to its average volume of 908,400. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market cap of $3,658.19, a price-to-earnings ratio of 16.58, a PEG ratio of 2.32 and a beta of 1.20. Associated Banc-Corp has a 1-year low of $20.95 and a 1-year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last posted its earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The company had revenue of $276.02 million for the quarter, compared to analyst estimates of $276.88 million. Associated Banc-Corp had a net margin of 19.54% and a return on equity of 7.81%. During the same period last year, the business posted $0.31 earnings per share. sell-side analysts anticipate that Associated Banc-Corp will post 1.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.14 per share. This is an increase from Associated Banc-Corp’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, November 30th. This represents a $0.56 annualized dividend and a yield of 2.30%. Associated Banc-Corp’s dividend payout ratio is presently 32.88%.
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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