Crescent Grove Advisors LLC purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) during the second quarter, Holdings Channel reports. The fund purchased 30,289 shares of the bank’s stock, valued at approximately $763,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in 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. Retirement Systems of Alabama boosted its stake in Associated Banc-Corp by 2.5% in the first quarter. Retirement Systems of Alabama now owns 195,982 shares of the bank’s stock worth $4,782,000 after buying an additional 4,768 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Associated Banc-Corp by 9.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 767,468 shares of the bank’s stock worth $18,727,000 after buying an additional 65,509 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Associated Banc-Corp by 49.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 33,592 shares of the bank’s stock worth $819,000 after buying an additional 11,086 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Associated Banc-Corp by 1.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 68,620 shares of the bank’s stock worth $1,674,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.

Associated Banc-Corp (ASB) opened at 22.45 on Friday. The firm’s 50-day moving average is $24.31 and its 200-day moving average is $24.72. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 16.15 and a beta of 1.16. Associated Banc-Corp has a 52-week low of $18.74 and a 52-week high of $26.70.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s payout ratio is currently 34.53%.

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A number of research firms recently commented on ASB. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 30th. Piper Jaffray Companies set a $25.00 target price on shares of Associated Banc-Corp and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 21st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.00.

In related news, insider Christopher C. Piotrowski sold 16,218 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total transaction of $381,933.90. Following the completion of the sale, the insider now directly owns 30,479 shares of the company’s stock, valued at $717,780.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 4,500 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $23.57, for a total value 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 disclosure for this sale can be found here. Insiders sold 38,772 shares of company stock valued at $914,334 over the last three months. Corporate insiders own 1.80% of the company’s stock.

About Associated Banc-Corp

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

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