Crestline Management LP bought a new stake in Associated Banc-Corp (NYSE:ASB) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 53,000 shares of the bank’s stock, valued at approximately $1,285,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in Associated Banc during the 3rd quarter worth $420,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Associated Banc in the third quarter valued at about $255,000. Maltese Capital Management LLC raised its position in Associated Banc by 600.0% during the third quarter. Maltese Capital Management LLC now owns 455,000 shares of the bank’s stock worth $11,034,000 after acquiring an additional 390,000 shares during the last quarter. Prospector Partners LLC acquired a new position in Associated Banc during the third quarter worth about $3,667,000. Finally, Keeley Teton Advisors LLC raised its position in Associated Banc by 24.4% during the third quarter. Keeley Teton Advisors LLC now owns 89,045 shares of the bank’s stock worth $2,159,000 after acquiring an additional 17,472 shares during the last quarter. 77.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. SunTrust Banks set a $26.00 price target on shares of Associated Banc and gave the stock a “hold” rating in a report on Saturday, October 21st. Barclays lifted their price target on shares of Associated Banc 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 raised shares of Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, October 24th. Jefferies Group reissued a “hold” rating and set a $28.00 target price on shares of Associated Banc in a research report on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price target on shares of Associated Banc in a report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. Associated Banc has a consensus rating of “Hold” and an average price target of $25.91.
Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. The firm had revenue of $276.02 million during the quarter, compared to analysts’ expectations 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 business earned $0.31 earnings per share. equities research analysts forecast that Associated Banc-Corp will post 1.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.3828 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 6.14%. Associated Banc’s dividend payout ratio (DPR) is presently 38.36%.
In other Associated Banc news, insider William M. Bohn sold 15,946 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $26.00, for a total transaction of $414,596.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William R. Hutchinson sold 4,632 shares of the firm’s stock in a transaction dated 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 owns 91,209 shares in the company, valued at approximately $2,344,071.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,426 shares of company stock valued at $1,558,805. 1.80% of the stock is currently owned by corporate insiders.
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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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