Quantbot Technologies LP Has $870,000 Holdings in Associated Banc-Corp (ASB)
Quantbot Technologies LP boosted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 167.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 35,900 shares of the bank’s stock after purchasing an additional 22,491 shares during the period. Quantbot Technologies LP’s holdings in Associated Banc-Corp were worth $870,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Associated Banc-Corp 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 acquiring an additional 18,435 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Associated Banc-Corp by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock worth $46,389,000 after acquiring an additional 38,996 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Associated Banc-Corp by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock worth $321,025,000 after acquiring an additional 248,381 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Associated Banc-Corp by 20.0% during the 2nd quarter. State of Tennessee Treasury Department now owns 240,000 shares of the bank’s stock worth $6,048,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Associated Banc-Corp by 5.3% during 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. 76.65% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays PLC raised their price target on shares of Associated Banc-Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. SunTrust Banks, Inc. set a $26.00 price target on shares of Associated Banc-Corp and gave the company a “hold” rating in a research note on Saturday, October 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $28.00 price target on shares of Associated Banc-Corp in a research note on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price target on shares of Associated Banc-Corp in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.82.
In related news, CFO Moral-Niles Christopher Del sold 11,999 shares of Associated Banc-Corp stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $24.72, for a total value of $296,615.28. Following the completion of the sale, the chief financial officer now owns 81,092 shares in the company, valued at approximately $2,004,594.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Hutchinson sold 4,632 shares of Associated Banc-Corp stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $25.70, for a total transaction of $119,042.40. Following the completion of the sale, the director now owns 91,209 shares of the company’s stock, valued at approximately $2,344,071.30. The disclosure for this sale can be found here. Insiders have sold a total of 26,631 shares of company stock valued at $668,158 in the last 90 days. Insiders own 1.80% of the company’s stock.
Shares of Associated Banc-Corp (NYSE:ASB) opened at $24.85 on Thursday. The stock has a market cap of $3,733.77, a P/E ratio of 16.92, a PEG ratio of 2.35 and a beta of 1.20. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. Associated Banc-Corp has a 1-year low of $20.95 and a 1-year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. The business had revenue of $276.02 million during the quarter, compared to the consensus estimate of $276.88 million. Associated Banc-Corp had a net margin of 19.54% and a return on equity of 7.81%. During the same quarter last year, the firm earned $0.31 EPS. research analysts forecast that Associated Banc-Corp will post 1.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.3828 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 6.16%. Associated Banc-Corp’s dividend payout ratio is currently 32.88%.
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Associated Banc-Corp 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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