18,529 Shares in Associated Banc-Corp (NYSE:ASB) Acquired by ING Groep NV

ING Groep NV purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) during the second quarter, according to its most recent filing with the SEC. The firm purchased 18,529 shares of the bank’s stock, valued at approximately $341,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Associated Banc-Corp by 6.0% in the first quarter. Vanguard Group Inc. now owns 12,490,743 shares of the bank’s stock worth $304,775,000 after buying an additional 707,633 shares in the last quarter. State Street Corp boosted its stake in shares of Associated Banc-Corp by 10.4% in the first quarter. State Street Corp now owns 6,785,200 shares of the bank’s stock worth $165,559,000 after buying an additional 641,800 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Associated Banc-Corp by 4.6% in the first quarter. Victory Capital Management Inc. now owns 5,176,832 shares of the bank’s stock worth $126,315,000 after buying an additional 228,539 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Associated Banc-Corp by 3.5% in the first quarter. Alliancebernstein L.P. now owns 4,030,860 shares of the bank’s stock worth $98,353,000 after buying an additional 134,916 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Associated Banc-Corp by 43.0% in the first quarter. Bank of New York Mellon Corp now owns 3,723,047 shares of the bank’s stock worth $90,843,000 after buying an additional 1,118,865 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Associated Banc-Corp (ASB) traded down 0.46% during trading on Friday, reaching $21.80. 855,276 shares of the company were exchanged. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.68 and a beta of 1.16. The firm’s 50 day moving average price is $23.92 and its 200-day moving average price is $24.59. Associated Banc-Corp has a one year low of $18.85 and a one year high of $26.70.

Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $266.23 million for the quarter, compared to the consensus estimate of $273.29 million. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts predict that Associated Banc-Corp will post $1.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 34.53%.

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A number of analysts have recently issued reports on ASB shares. Jefferies Group LLC restated a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a research note on Sunday, June 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 21st. Zacks Investment Research cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. BidaskClub upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Morgan Stanley restated an “equal weight” rating and set a $25.00 target price (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Associated Banc-Corp has an average rating of “Hold” and a consensus price target of $25.00.

In other Associated Banc-Corp news, Director Eileen A. Kamerick sold 4,500 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $23.57, for a total transaction of $106,065.00. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $636,484.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total transaction of $381,933.90. Following the sale, the insider now directly owns 30,479 shares in the company, valued at $717,780.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,772 shares of company stock worth $914,334. Insiders own 1.80% 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 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.

Institutional Ownership by Quarter for Associated Banc-Corp (NYSE:ASB)

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