UBS Asset Management Americas Inc. raised its position in Associated Banc-Corp (NYSE:ASB) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,990 shares of the company’s stock after buying an additional 454 shares during the period. UBS Asset Management Americas Inc. owned about 0.10% of Associated Banc-Corp worth $2,435,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in ASB. AXA acquired a new stake in Associated Banc-Corp during the first quarter worth approximately $334,000. Quadrature Capital Ltd acquired a new stake in Associated Banc-Corp during the first quarter worth approximately $368,000. Rafferty Asset Management LLC increased its stake in Associated Banc-Corp by 45.3% in the first quarter. Rafferty Asset Management LLC now owns 21,138 shares of the company’s stock worth $379,000 after buying an additional 6,588 shares during the last quarter. State Street Corp increased its stake in Associated Banc-Corp by 3.0% in the first quarter. State Street Corp now owns 6,356,937 shares of the company’s stock worth $114,052,000 after buying an additional 185,248 shares during the last quarter. Finally, Associated Banc Corp increased its stake in Associated Banc-Corp by 1.4% in the first quarter. Associated Banc Corp now owns 3,222,052 shares of the company’s stock worth $57,804,000 after buying an additional 44,397 shares during the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
Shares of Associated Banc-Corp (NYSE:ASB) traded down 0.25% on Friday, reaching $19.61. 856,331 shares of the company were exchanged. The stock has a market capitalization of $2.91 billion, a P/E ratio of 16.91 and a beta of 1.32. Associated Banc-Corp has a 12 month low of $15.45 and a 12 month high of $20.90. The stock has a 50 day moving average price of $19.58 and a 200-day moving average price of $18.37.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%. On average, equities analysts expect that Associated Banc-Corp will post $1.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 2.24%. Associated Banc-Corp’s payout ratio is presently 37.93%.
A number of research firms recently commented on ASB. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, September 13th. DA Davidson initiated coverage on shares of Associated Banc-Corp in a research report on Monday, October 3rd. They issued an “underperform” rating and a $18.00 target price on the stock. Barclays PLC lifted their target price on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th. Finally, Jefferies Group reissued a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.38.
In related news, CFO Moral-Niles Christopher Del sold 4,814 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $19.57, for a total value of $94,209.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Williams purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was purchased at an average price of $19.85 per share, for a total transaction of $39,700.00. The disclosure for this purchase can be found here. Company insiders own 2.09% of the company’s stock.
Associated Banc-Corp Company Profile
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and nonbanking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
Want to see what other hedge funds are holding ASB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Associated Banc-Corp (NYSE:ASB).
Receive News & Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related companies with MarketBeat.com's FREE daily email newsletter.