Russell Investments Group Ltd. grew its stake in Associated Banc Corp (NYSE:ASB) by 20.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,904 shares of the bank’s stock after purchasing an additional 8,747 shares during the period. Russell Investments Group Ltd.’s holdings in Associated Banc were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Associated Banc by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 808,521 shares of the bank’s stock worth $20,375,000 after acquiring an additional 41,053 shares in the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Associated Banc by 1.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 30,175 shares of the bank’s stock worth $760,000 after acquiring an additional 550 shares in the last quarter. Legal & General Group Plc lifted its holdings in Associated Banc by 12.0% during the 2nd quarter. Legal & General Group Plc now owns 182,903 shares of the bank’s stock worth $4,609,000 after buying an additional 19,534 shares in the last quarter. Comerica Bank lifted its holdings in Associated Banc by 1.0% during the 2nd quarter. Comerica Bank now owns 118,636 shares of the bank’s stock worth $2,788,000 after buying an additional 1,150 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Associated Banc by 47.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 57,517 shares of the bank’s stock worth $1,449,000 after buying an additional 18,435 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.
Several research analysts have issued reports on ASB shares. SunTrust Banks set a $26.00 price objective on Associated Banc and gave the stock a “hold” rating in a report on Saturday, October 21st. Zacks Investment Research downgraded Associated Banc from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine downgraded Associated Banc from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. DA Davidson raised Associated Banc from an “underperform” rating to a “neutral” rating and set a $21.00 price target on the stock in a research note on Wednesday, September 6th. Finally, Barclays increased their price target on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.20.
Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. The business had revenue of $276.02 million during the quarter, compared to analysts’ expectations of $276.88 million. During the same quarter in the prior year, the company earned $0.31 EPS. research analysts expect that Associated Banc Corp will post 1.5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.3828 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Thursday, November 30th. Associated Banc’s dividend payout ratio is currently 38.36%.
In other Associated Banc news, CFO Moral-Niles Christopher Del sold 1,476 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $26.00, for a total transaction of $38,376.00. Following the completion of the transaction, the chief financial officer now owns 81,784 shares in the company, valued at approximately $2,126,384. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William M. Bohn sold 15,946 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $26.00, for a total value of $414,596.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,426 shares of company stock valued at $1,558,805. 1.80% of the stock is owned by corporate insiders.
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About Associated Banc
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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