LSV Asset Management boosted its holdings in Associated Banc Corp (NYSE:ASB) by 102.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 917,315 shares of the bank’s stock after purchasing an additional 463,800 shares during the quarter. LSV Asset Management’s holdings in Associated Banc were worth $23,299,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Citigroup Inc. boosted its stake in Associated Banc by 1.0% in the 2nd quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock worth $407,000 after purchasing an additional 155 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Associated Banc by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 45,582 shares of the bank’s stock worth $1,149,000 after purchasing an additional 806 shares during the period. Pacer Advisors Inc. boosted its stake in Associated Banc by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 20,892 shares of the bank’s stock worth $507,000 after purchasing an additional 2,175 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Associated Banc by 2.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 79,828 shares of the bank’s stock worth $2,012,000 after purchasing an additional 2,256 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Associated Banc by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,773 shares of the bank’s stock worth $223,000 after purchasing an additional 2,842 shares during the period. Institutional investors and hedge funds own 76.46% of the company’s stock.
Shares of Associated Banc Corp (NYSE ASB) opened at $24.60 on Thursday. Associated Banc Corp has a twelve month low of $20.95 and a twelve month high of $26.70. The firm has a market capitalization of $4,177.76, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.96 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from Associated Banc’s previous quarterly dividend of $0.14. Associated Banc’s dividend payout ratio is presently 39.16%.
In related news, insider William M. Bohn sold 15,946 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $26.00, for a total transaction of $414,596.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $25.08, for a total value of $250,800.00. Following the sale, the chief executive officer now owns 122,457 shares in the company, valued at approximately $3,071,221.56. The disclosure for this sale can be found here. Insiders have sold a total of 72,644 shares of company stock worth $1,840,922 in the last 90 days. 1.80% of the stock is currently owned by insiders.
Several research firms have weighed in on ASB. Barclays upped their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. SunTrust Banks reaffirmed a “hold” rating and set a $24.00 price objective on shares of Associated Banc in a report on Thursday, October 12th. Morgan Stanley decreased their price objective on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 31st. Zacks Investment Research raised Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, October 24th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $28.00 price objective on shares of Associated Banc in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $26.30.
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Associated Banc 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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