18,950 Shares in Associated Banc Corp (ASB) Purchased by Nomura Holdings Inc.
Nomura Holdings Inc. purchased a new stake in Associated Banc Corp (NYSE:ASB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,950 shares of the bank’s stock, valued at approximately $517,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new position in Associated Banc in the 2nd quarter valued at about $139,000. Landaas & Co. WI ADV acquired a new position in shares of Associated Banc during the 2nd quarter worth approximately $143,000. Hartford Investment Management Co. acquired a new position in shares of Associated Banc during the 2nd quarter worth approximately $202,000. Savant Capital LLC acquired a new position in shares of Associated Banc during the 2nd quarter worth approximately $217,000. Finally, HRT Financial LLC acquired a new position in shares of Associated Banc during the 2nd quarter worth approximately $238,000. Institutional investors and hedge funds own 76.39% of the company’s stock.
In other news, CEO Philip B. Flynn purchased 115,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was bought at an average price of $25.00 per share, with a total value of $2,875,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David L. Stein sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $27.72, for a total transaction of $138,600.00. Following the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at approximately $1,069,271.28. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 121,000 shares of company stock valued at $3,025,000 and have sold 40,675 shares valued at $1,135,267. Corporate insiders own 2.13% of the company’s stock.
Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 19th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.05. Associated Banc had a net margin of 20.00% and a return on equity of 9.10%. The firm had revenue of $319.20 million for the quarter, compared to analyst estimates of $316.63 million. During the same quarter in the prior year, the business posted $0.36 EPS. equities analysts expect that Associated Banc Corp will post 2.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, August 31st. Associated Banc’s dividend payout ratio (DPR) is presently 39.47%.
A number of brokerages have issued reports on ASB. Morgan Stanley restated a “hold” rating and set a $29.50 target price (down previously from $30.00) on shares of Associated Banc in a research report on Tuesday, September 18th. Zacks Investment Research lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Jefferies Financial Group restated a “hold” rating and set a $30.00 target price on shares of Associated Banc in a research report on Friday, July 20th. Finally, Robert W. Baird restated a “buy” rating and set a $30.00 target price on shares of Associated Banc in a research report on Tuesday, July 10th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.61.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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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