Oregon Public Employees Retirement Fund raised its stake in Associated Banc-Corp (NYSE:ASB) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,768 shares of the bank’s stock after buying an additional 2,349 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Associated Banc-Corp were worth $1,380,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Gateway Investment Advisers LLC increased its position in shares of Associated Banc-Corp by 35.0% in the second quarter. Gateway Investment Advisers LLC now owns 415,811 shares of the bank’s stock valued at $10,478,000 after buying an additional 107,722 shares during the period. Bank of Montreal Can increased its position in shares of Associated Banc-Corp by 15.6% in the second quarter. Bank of Montreal Can now owns 71,150 shares of the bank’s stock valued at $1,794,000 after buying an additional 9,628 shares during the period. Capital One National Association increased its position in shares of Associated Banc-Corp by 2.2% in the second quarter. Capital One National Association now owns 96,538 shares of the bank’s stock valued at $2,433,000 after buying an additional 2,114 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Associated Banc-Corp by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 77,572 shares of the bank’s stock valued at $1,893,000 after buying an additional 2,133 shares during the period. Finally, Janus Capital Management LLC increased its position in shares of Associated Banc-Corp by 295.6% in the first quarter. Janus Capital Management LLC now owns 89,000 shares of the bank’s stock valued at $2,172,000 after buying an additional 66,500 shares during the period. Institutional investors own 78.54% of the company’s stock.
Associated Banc-Corp (NYSE:ASB) opened at 22.25 on Friday. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 16.01 and a beta of 1.16. Associated Banc-Corp has a 12 month low of $18.85 and a 12 month high of $26.70. The stock’s 50 day moving average price is $24.25 and its 200-day moving average price is $24.71.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The firm had revenue of $266.23 million for the quarter, compared to analyst estimates of $273.29 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities research analysts predict that Associated Banc-Corp will post $1.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is presently 34.53%.
Several equities analysts recently weighed in on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price target on shares of Associated Banc-Corp in a report on Friday. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 30th. Piper Jaffray Companies set a $25.00 price objective on Associated Banc-Corp and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 price objective on shares of Associated Banc-Corp in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Associated Banc-Corp presently has an average rating of “Hold” and a consensus price target of $25.00.
In other Associated Banc-Corp news, insider John A. Utz sold 8,054 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.62, for a total transaction of $190,235.48. Following the sale, the insider now directly owns 44,405 shares in the company, valued at $1,048,846.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.61, for a total value of $236,100.00. Following the sale, the chief executive officer now owns 127,585 shares in the company, valued at $3,012,281.85. The disclosure for this sale can be found here. Insiders have sold 38,772 shares of company stock worth $914,334 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.
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 non-banking 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.
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