Teacher Retirement System of Texas boosted its position in shares of Associated Banc-Corp (NYSE:ASB) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,049 shares of the company’s stock after buying an additional 2,546 shares during the period. Teacher Retirement System of Texas’ holdings in Associated Banc-Corp were worth $361,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in Associated Banc-Corp by 16.5% in the first quarter. Aperio Group LLC now owns 37,898 shares of the company’s stock worth $680,000 after buying an additional 5,369 shares in the last quarter. Teachers Advisors Inc. raised its stake in Associated Banc-Corp by 5.7% in the first quarter. Teachers Advisors Inc. now owns 285,383 shares of the company’s stock worth $5,120,000 after buying an additional 15,356 shares in the last quarter. Prudential Financial Inc. raised its stake in Associated Banc-Corp by 14.3% in the first quarter. Prudential Financial Inc. now owns 862,581 shares of the company’s stock worth $15,475,000 after buying an additional 108,154 shares in the last quarter. BlackRock Inc. raised its stake in Associated Banc-Corp by 21.3% in the first quarter. BlackRock Inc. now owns 67,882 shares of the company’s stock worth $1,217,000 after buying an additional 11,902 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Associated Banc-Corp by 14.4% in the first quarter. BlackRock Group LTD now owns 113,069 shares of the company’s stock worth $2,028,000 after buying an additional 14,239 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
Associated Banc-Corp (NYSE:ASB) traded up 0.51% during mid-day trading on Wednesday, reaching $19.70. 38,816 shares of the company’s stock traded hands. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $20.90. The stock has a market cap of $2.93 billion, a P/E ratio of 16.98 and a beta of 1.32. The firm has a 50-day moving average price of $19.58 and a 200-day moving average price of $18.40.
Associated Banc-Corp (NYSE:ASB) last announced its earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, meeting 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%. Equities research analysts anticipate that Associated Banc-Corp will post $1.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, August 30th. Associated Banc-Corp’s payout ratio is presently 37.93%.
A number of equities research analysts have recently issued reports on ASB shares. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Jefferies Group reiterated a “buy” rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Barclays PLC upped their price objective on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th. DA Davidson initiated coverage on shares of Associated Banc-Corp in a research note on Monday, October 3rd. They issued an “underperform” rating and a $18.00 price objective on the stock. Finally, Deutsche Bank AG upped their price objective on shares of Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.63.
In other Associated Banc-Corp news, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $18.61, for a total transaction of $186,100.00. Following the transaction, the chief executive officer now directly owns 129,735 shares in the company, valued at approximately $2,414,368.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Moral-Niles Christopher Del sold 8,052 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $18.55, for a total value of $149,364.60. Following the transaction, the chief financial officer now owns 79,644 shares in the company, valued at $1,477,396.20. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate 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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