Foundry Partners LLC lessened its position in Associated Banc-Corp (NYSE:ASB) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 931,613 shares of the bank’s stock after selling 52,786 shares during the quarter. Foundry Partners LLC owned about 0.61% of Associated Banc worth $19,955,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ASB. Koshinski Asset Management Inc. acquired a new stake in Associated Banc in the 3rd quarter worth $50,000. Hennessy Advisors Inc. grew its position in Associated Banc by 12.5% in the 3rd quarter. Hennessy Advisors Inc. now owns 180,000 shares of the bank’s stock worth $3,856,000 after purchasing an additional 20,000 shares during the last quarter. Morgan Stanley grew its position in Associated Banc by 60.1% in the 2nd quarter. Morgan Stanley now owns 459,281 shares of the bank’s stock worth $9,405,000 after purchasing an additional 172,434 shares during the last quarter. Invesco Ltd. grew its position in Associated Banc by 37.9% in the 2nd quarter. Invesco Ltd. now owns 704,348 shares of the bank’s stock worth $14,426,000 after purchasing an additional 193,738 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in Associated Banc by 258,038.5% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 67,116 shares of the bank’s stock worth $1,375,000 after purchasing an additional 67,090 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.
Several analysts have issued reports on ASB shares. TheStreet upgraded shares of Associated Banc from a “c+” rating to a “b-” rating in a research report on Friday, October 15th. Jefferies Financial Group raised their price target on shares of Associated Banc from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, October 11th. Royal Bank of Canada lifted their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, October 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Associated Banc from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 7th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Associated Banc presently has an average rating of “Hold” and a consensus target price of $23.20.
In other news, insider Tammy C. Stadler sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $23.84, for a total value of $166,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy J. Lau sold 14,000 shares of the stock in a transaction on Wednesday, November 10th. The stock was sold at an average price of $24.03, for a total transaction of $336,420.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,350 shares of company stock worth $534,350. Company insiders own 3.25% of the company’s stock.
NYSE:ASB opened at $23.59 on Friday. The firm has a market cap of $3.54 billion, a PE ratio of 11.23 and a beta of 1.17. Associated Banc-Corp has a 12 month low of $15.31 and a 12 month high of $24.06. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $22.40 and its two-hundred day moving average price is $21.52.
Associated Banc (NYSE:ASB) last released its quarterly earnings results on Wednesday, October 20th. The bank reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.12. Associated Banc had a net margin of 29.80% and a return on equity of 9.02%. During the same period last year, the firm earned $0.24 EPS. On average, research analysts expect that Associated Banc-Corp will post 2.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.39%. Associated Banc’s dividend payout ratio (DPR) is presently 38.10%.
Associated Banc Company Profile
Associated Banc-Corp. operates as a bank holding company, which offers various banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty; Community, Consumer and Business; and Risk Management and Shared Services.
Featured Story: News Sentiment