Rothschild Investment LLC Makes New $384,000 Investment in Associated Banc-Corp (NYSE:ASB)

Rothschild Investment LLC purchased a new position in Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 18,160 shares of the bank’s stock, valued at approximately $384,000.

A number of other large investors have also modified their holdings of ASB. Retirement Systems of Alabama raised its position in Associated Banc by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after purchasing an additional 651 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of Associated Banc by 1.4% during the second quarter. Miller Howard Investments Inc. NY now owns 57,831 shares of the bank’s stock worth $1,223,000 after buying an additional 786 shares during the period. State of Michigan Retirement System raised its holdings in Associated Banc by 2.2% in the first quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock valued at $785,000 after acquiring an additional 800 shares in the last quarter. N.E.W. Advisory Services LLC grew its holdings in Associated Banc by 7.5% during the 4th quarter. N.E.W. Advisory Services LLC now owns 11,963 shares of the bank’s stock worth $256,000 after acquiring an additional 835 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after purchasing an additional 894 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ASB. Stephens reaffirmed an “equal weight” rating and set a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada increased their price objective on Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Jefferies Financial Group cut their target price on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Finally, Robert W. Baird lowered their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.67.

Associated Banc Stock Up 0.7 %

Associated Banc stock opened at $22.88 on Monday. The company has a market capitalization of $3.45 billion, a P/E ratio of 23.11, a PEG ratio of 2.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. Associated Banc-Corp has a fifty-two week low of $15.16 and a fifty-two week high of $24.21. The stock has a 50-day simple moving average of $21.67 and a 200-day simple moving average of $21.23.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $321.75 million during the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Equities research analysts expect that Associated Banc-Corp will post 2.07 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, September 3rd. Associated Banc’s dividend payout ratio is currently 88.89%.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at $2,269,730.86. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.