South Dakota Investment Council Boosts Position in Associated Banc-Corp (ASB)
South Dakota Investment Council boosted its position in shares of Associated Banc-Corp (NYSE:ASB) by 26.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 144,100 shares of the bank’s stock after acquiring an additional 30,000 shares during the quarter. South Dakota Investment Council owned 0.10% of Associated Banc-Corp worth $3,494,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ASB. Teachers Advisors LLC increased its position in Associated Banc-Corp by 2.9% during the first quarter. Teachers Advisors LLC now owns 173,707 shares of the bank’s stock valued at $4,238,000 after acquiring an additional 4,873 shares during the last quarter. Bank of Montreal Can increased its position in Associated Banc-Corp by 15.6% during the second quarter. Bank of Montreal Can now owns 71,150 shares of the bank’s stock valued at $1,794,000 after acquiring an additional 9,628 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Associated Banc-Corp by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 54,768 shares of the bank’s stock valued at $1,380,000 after acquiring an additional 2,349 shares during the last quarter. LS Investment Advisors LLC increased its position in Associated Banc-Corp by 14.5% during the second quarter. LS Investment Advisors LLC now owns 15,146 shares of the bank’s stock valued at $382,000 after acquiring an additional 1,916 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Associated Banc-Corp by 3.7% during the second quarter. Louisiana State Employees Retirement System now owns 39,700 shares of the bank’s stock valued at $1,000,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors own 76.65% of the company’s stock.
ASB has been the subject of several recent research reports. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday, October 24th. Barclays PLC boosted their price target on Associated Banc-Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Jefferies Group LLC reissued a “hold” rating and set a $27.00 price target on shares of Associated Banc-Corp in a report on Friday, August 11th. ValuEngine lowered Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Robert W. Baird reissued a “hold” rating and set a $25.00 price target on shares of Associated Banc-Corp in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $25.82.
Shares of Associated Banc-Corp (ASB) opened at $24.40 on Friday. Associated Banc-Corp has a fifty-two week low of $20.95 and a fifty-two week high of $26.70. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $3,756.45, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The business had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. Associated Banc-Corp had a return on equity of 7.81% and a net margin of 19.54%. During the same quarter in the previous year, the company posted $0.31 earnings per share. equities research analysts expect that Associated Banc-Corp will post 1.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.3828 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date is Thursday, November 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is 32.88%.
In other news, insider Breck F. Hanson sold 11,373 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $24.92, for a total value of $283,415.16. Following the completion of the transaction, the insider now owns 37,722 shares of the company’s stock, valued at $940,032.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 11,999 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $24.72, for a total value of $296,615.28. Following the completion of the transaction, the chief financial officer now directly owns 81,092 shares of the company’s stock, valued at approximately $2,004,594.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,004 shares of company stock valued at $951,573. Corporate insiders own 1.80% of the company’s stock.
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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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