Alps Advisors Inc. Has $360,000 Stock Holdings in Associated Banc Corp (NYSE:ASB)

Alps Advisors Inc. grew its holdings in Associated Banc Corp (NYSE:ASB) by 6.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 17,766 shares of the bank’s stock after acquiring an additional 1,014 shares during the period. Alps Advisors Inc.’s holdings in Associated Banc were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ASB. Wells Fargo & Company MN increased its position in shares of Associated Banc by 8.1% during the 2nd quarter. Wells Fargo & Company MN now owns 2,489,109 shares of the bank’s stock worth $52,620,000 after purchasing an additional 187,513 shares in the last quarter. LSV Asset Management grew its holdings in Associated Banc by 20.6% during the 2nd quarter. LSV Asset Management now owns 2,221,064 shares of the bank’s stock worth $46,953,000 after acquiring an additional 379,450 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Associated Banc by 1.2% during the 2nd quarter. Pzena Investment Management LLC now owns 2,133,134 shares of the bank’s stock worth $45,094,000 after acquiring an additional 24,292 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in Associated Banc by 167.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,840,627 shares of the bank’s stock worth $38,911,000 after acquiring an additional 1,152,212 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Associated Banc during the 2nd quarter worth about $35,221,000. Institutional investors own 74.93% of the company’s stock.

A number of equities research analysts have commented on the stock. SunTrust Banks set a $22.00 price objective on shares of Associated Banc and gave the stock a “hold” rating in a report on Monday, September 9th. Royal Bank of Canada set a $23.00 price objective on shares of Associated Banc and gave the stock a “hold” rating in a report on Friday, July 26th. Stephens set a $22.00 price objective on shares of Associated Banc and gave the stock a “hold” rating in a report on Friday, October 25th. Zacks Investment Research raised shares of Associated Banc from a “strong sell” rating to a “hold” rating and set a $17.00 price objective on the stock in a report on Tuesday, October 29th. Finally, ValuEngine lowered shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Associated Banc currently has an average rating of “Hold” and an average price target of $22.00.

Shares of NYSE ASB opened at $21.43 on Friday. The firm has a market capitalization of $3.45 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. Associated Banc Corp has a 1 year low of $18.52 and a 1 year high of $23.83. The firm’s 50-day moving average is $20.41 and its 200-day moving average is $20.66.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $307.00 million for the quarter, compared to analyst estimates of $312.55 million. Associated Banc had a net margin of 21.73% and a return on equity of 9.71%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. As a group, equities research analysts anticipate that Associated Banc Corp will post 1.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, November 29th. This is a positive change from Associated Banc’s previous quarterly dividend of $0.17. Associated Banc’s dividend payout ratio (DPR) is 33.50%.

In other news, EVP John A. Utz sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $20.04, for a total value of $60,120.00. Following the transaction, the executive vice president now owns 59,348 shares of the company’s stock, valued at approximately $1,189,333.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David L. Stein sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $21.79, for a total transaction of $435,800.00. Following the completion of the transaction, the executive vice president now directly owns 69,835 shares in the company, valued at approximately $1,521,704.65. The disclosure for this sale can be found here. Insiders sold a total of 44,481 shares of company stock worth $957,106 in the last ninety days. Insiders own 2.69% of the company’s stock.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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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).

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

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