Russell Investments Group Ltd. lifted its position in Associated Banc Corp (NYSE:ASB) by 21.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,884 shares of the bank’s stock after purchasing an additional 15,943 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of Associated Banc worth $1,872,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ASB. Geode Capital Management LLC boosted its holdings in shares of Associated Banc by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,628,897 shares of the bank’s stock worth $32,235,000 after purchasing an additional 47,343 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in shares of Associated Banc by 0.6% in the 1st quarter. Mason Street Advisors LLC now owns 87,391 shares of the bank’s stock worth $1,866,000 after purchasing an additional 554 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Associated Banc by 34.3% in the 1st quarter. LSV Asset Management now owns 1,841,614 shares of the bank’s stock worth $39,318,000 after purchasing an additional 470,500 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Associated Banc in the 1st quarter worth about $2,285,000. Finally, First Trust Advisors LP boosted its holdings in shares of Associated Banc by 16.4% in the 1st quarter. First Trust Advisors LP now owns 353,376 shares of the bank’s stock worth $7,545,000 after purchasing an additional 49,881 shares in the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.
A number of equities analysts have recently issued reports on ASB shares. Royal Bank of Canada set a $23.00 price objective on Associated Banc and gave the stock a “hold” rating in a report on Friday, July 26th. SunTrust Banks set a $22.00 price objective on Associated Banc and gave the stock a “hold” rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $24.50.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, July 25th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. The company had revenue of $309.46 million during the quarter, compared to analyst estimates of $315.84 million. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities research analysts expect that Associated Banc Corp will post 1.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, August 30th. Associated Banc’s dividend payout ratio (DPR) is presently 33.50%.
In other Associated Banc news, EVP John A. Utz sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $20.04, for a total transaction of $60,120.00. Following the completion of the transaction, the executive vice president now owns 59,348 shares of the company’s stock, valued at approximately $1,189,333.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher C. Piotrowski sold 10,726 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $21.37, for a total value of $229,214.62. Following the transaction, the insider now directly owns 40,276 shares of the company’s stock, valued at approximately $860,698.12. The disclosure for this sale can be found here. In the last three months, insiders sold 19,698 shares of company stock valued at $422,887. 2.69% of the stock is currently owned by corporate insiders.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses 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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