North Star Asset Management Inc. continued to hold its stake in shares of Associated Banc-Corp (NYSE:ASB) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,014 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Associated Banc-Corp were worth $1,256,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Foundry Partners LLC bought a new stake in shares of Associated Banc-Corp during the second quarter worth about $10,573,000. State Street Corp raised its position in Associated Banc-Corp by 3.0% in the first quarter. State Street Corp now owns 6,356,937 shares of the company’s stock valued at $114,052,000 after buying an additional 185,248 shares during the last quarter. JPMorgan Chase & Co. raised its position in Associated Banc-Corp by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 3,938,547 shares of the company’s stock valued at $70,657,000 after buying an additional 167,106 shares during the last quarter. Prudential Financial Inc. raised its position in Associated Banc-Corp by 14.3% in the first quarter. Prudential Financial Inc. now owns 862,581 shares of the company’s stock valued at $15,475,000 after buying an additional 108,154 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Associated Banc-Corp by 248.3% in the second quarter. BNP Paribas Arbitrage SA now owns 76,786 shares of the company’s stock valued at $1,317,000 after buying an additional 54,741 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors.
Shares of Associated Banc-Corp (NYSE:ASB) traded down 1.77% on Tuesday, reaching $19.45. The company’s stock had a trading volume of 362,230 shares. The company’s 50 day moving average is $19.58 and its 200-day moving average is $18.39. The stock has a market cap of $2.89 billion, a PE ratio of 16.77 and a beta of 1.32. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $20.90.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%. On average, equities analysts predict that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 2.22%. Associated Banc-Corp’s dividend payout ratio is currently 37.93%.
Several research analysts recently weighed in on ASB shares. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, September 13th. DA Davidson started coverage on Associated Banc-Corp in a research report on Monday, October 3rd. They set an “underperform” rating and a $18.00 price target on the stock. Jefferies Group reissued a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Barclays PLC upped their price target on Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG upped their price target on Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.63.
In other news, insider James Yee sold 9,983 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $19.19, for a total value of $191,573.77. Following the transaction, the insider now directly owns 72,368 shares in the company, valued at approximately $1,388,741.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Williams purchased 2,000 shares of Associated Banc-Corp stock in a transaction dated Thursday, September 8th. The stock was bought at an average price of $19.85 per share, for a total transaction of $39,700.00. The disclosure for this purchase can be found here. 2.09% of the stock is owned by insiders.
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 nonbanking 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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