6,600 Shares in Associated Banc-Corp (NYSE:ASB) Bought by nVerses Capital LLC

nVerses Capital LLC purchased a new stake in Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 6,600 shares of the bank’s stock, valued at approximately $140,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of Associated Banc by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 32,830 shares of the bank’s stock valued at $694,000 after buying an additional 1,548 shares during the last quarter. Rothschild Investment LLC bought a new position in Associated Banc in the 2nd quarter valued at about $384,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Associated Banc by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,497 shares of the bank’s stock valued at $687,000 after purchasing an additional 4,003 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in Associated Banc by 1.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 57,831 shares of the bank’s stock worth $1,223,000 after purchasing an additional 786 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Associated Banc in the second quarter worth approximately $93,000. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In other Associated Banc 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 transaction, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Associated Banc news, 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 transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASB. Keefe, Bruyette & Woods lifted their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Barclays lowered their target price on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Jefferies Financial Group cut their price target on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research note on Tuesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.67.

Associated Banc Stock Up 0.7 %

ASB opened at $22.88 on Tuesday. Associated Banc-Corp has a twelve month low of $15.16 and a twelve month high of $24.21. The company’s 50-day moving average price is $21.71 and its two-hundred day moving average price is $21.24. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.50 and a beta of 0.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79.

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

Associated Banc Announces Dividend

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

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. 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.