Guggenheim Capital LLC increased its position in shares of Associated Banc-Corp (NYSE:ASB) by 23.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,847 shares of the bank’s stock after purchasing an additional 14,151 shares during the quarter. Guggenheim Capital LLC’s holdings in Associated Banc were worth $1,876,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of ASB. Allianz Asset Management GmbH purchased a new position in shares of Associated Banc during the 4th quarter worth $27,878,000. Mackenzie Financial Corp acquired a new position in Associated Banc during the 4th quarter worth about $16,071,000. BlackRock Inc. lifted its stake in Associated Banc by 3.8% during the 4th quarter. BlackRock Inc. now owns 12,786,592 shares of the bank’s stock worth $324,779,000 after acquiring an additional 471,331 shares in the last quarter. LSV Asset Management lifted its stake in Associated Banc by 102.3% during the 4th quarter. LSV Asset Management now owns 917,315 shares of the bank’s stock worth $23,299,000 after acquiring an additional 463,800 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its position in Associated Banc by 935.5% in the 4th quarter. Thrivent Financial For Lutherans now owns 393,732 shares of the bank’s stock valued at $10,000,000 after purchasing an additional 355,709 shares in the last quarter. Institutional investors own 77.45% of the company’s stock.
In other news, EVP John A. Utz sold 12,865 shares of Associated Banc stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $26.75, for a total value of $344,138.75. Following the completion of the sale, the executive vice president now owns 42,384 shares of the company’s stock, valued at $1,133,772. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Timothy J. Lau sold 19,558 shares of Associated Banc stock in a transaction on Monday, March 12th. The shares were sold at an average price of $26.75, for a total value of $523,176.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,568 shares of company stock valued at $3,621,898. Insiders own 2.13% of the company’s stock.
Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, April 19th. The bank reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.09. Associated Banc had a return on equity of 8.53% and a net margin of 18.87%. The company had revenue of $300.25 million during the quarter, compared to analysts’ expectations of $292.49 million. During the same period in the previous year, the firm posted $0.35 earnings per share. research analysts predict that Associated Banc-Corp will post 1.89 earnings per share for the current year.
A number of equities research analysts have issued reports on ASB shares. Zacks Investment Research raised Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, January 2nd. ValuEngine lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Barclays raised their target price on Associated Banc from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Piper Jaffray restated a “hold” rating and set a $26.00 price target on shares of Associated Banc in a research note on Sunday, January 28th. Finally, Morgan Stanley lowered their target price on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.20.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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