Toronto Dominion Bank reduced its stake in shares of Associated Banc Corp (NYSE:ASB) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,899 shares of the bank’s stock after selling 586 shares during the quarter. Toronto Dominion Bank’s holdings in Associated Banc were worth $61,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia raised its stake in Associated Banc by 47.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 25,600 shares of the bank’s stock valued at $541,000 after purchasing an additional 8,200 shares during the last quarter. Carlson Capital L P acquired a new position in shares of Associated Banc in the 2nd quarter valued at $3,723,000. Pacer Advisors Inc. acquired a new position in shares of Associated Banc in the 2nd quarter valued at $1,382,000. Renaissance Technologies LLC raised its stake in shares of Associated Banc by 621.5% in the 2nd quarter. Renaissance Technologies LLC now owns 433,631 shares of the bank’s stock valued at $9,167,000 after buying an additional 373,531 shares in the last quarter. Finally, Keeley Teton Advisors LLC raised its stake in shares of Associated Banc by 1.8% in the 2nd quarter. Keeley Teton Advisors LLC now owns 107,610 shares of the bank’s stock valued at $2,275,000 after buying an additional 1,934 shares in the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. SunTrust Banks set a $22.00 price objective on shares of Associated Banc and gave the company a “hold” rating in a research note on Monday, September 9th. Royal Bank of Canada set a $23.00 price objective on shares of Associated Banc and gave the company a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.50.

Shares of Associated Banc stock traded up $0.12 during mid-day trading on Friday, reaching $20.39. 7,559 shares of the stock were exchanged, compared to its average volume of 806,006. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.97. The firm has a 50-day simple moving average of $19.70 and a 200 day simple moving average of $21.18. Associated Banc Corp has a fifty-two week low of $18.52 and a fifty-two week high of $27.20.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Associated Banc had a net margin of 22.01% and a return on equity of 9.86%. The business had revenue of $309.46 million during the quarter, compared to analysts’ expectations of $315.84 million. During the same quarter last year, the company posted $0.53 EPS. On average, research analysts predict that Associated Banc Corp will post 1.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, August 30th. Associated Banc’s dividend payout ratio is currently 33.50%.

In other Associated Banc news, insider Christopher C. Piotrowski sold 10,726 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $21.37, for a total transaction of $229,214.62. Following the sale, the insider now owns 40,276 shares of the company’s stock, valued at approximately $860,698.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 2,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $26.50, for a total transaction of $53,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,698 shares of company stock worth $422,887. Insiders own 2.69% of the company’s stock.

About Associated Banc

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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

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