Associated Banc-Corp (ASB) Shares Bought by Foundry Partners LLC

Foundry Partners LLC increased its position in Associated Banc-Corp (NYSE:ASB) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 705,355 shares of the bank’s stock after buying an additional 13,657 shares during the period. Associated Banc-Corp makes up approximately 0.7% of Foundry Partners LLC’s portfolio, making the stock its 19th largest position. Foundry Partners LLC’s holdings in Associated Banc-Corp were worth $17,775,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its stake in shares of Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock worth $156,000 after buying an additional 30 shares in the last quarter. World Asset Management Inc raised its position in shares of Associated Banc-Corp by 2.5% in the second quarter. World Asset Management Inc now owns 9,629 shares of the bank’s stock valued at $243,000 after buying an additional 236 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Associated Banc-Corp by 1.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,175 shares of the bank’s stock valued at $541,000 after buying an additional 253 shares during the period. Alpha Windward LLC raised its position in shares of Associated Banc-Corp by 1.6% in the second quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock valued at $467,000 after buying an additional 300 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of Associated Banc-Corp by 2.6% in the first quarter. Capstone Asset Management Co. now owns 16,071 shares of the bank’s stock valued at $392,000 after buying an additional 410 shares during the period. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc-Corp (NYSE ASB) opened at 22.45 on Friday. Associated Banc-Corp has a 52 week low of $18.74 and a 52 week high of $26.70. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 16.15 and a beta of 1.16. The stock has a 50 day moving average of $24.31 and a 200 day moving average of $24.72.

Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The company had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities research analysts predict that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is currently 34.53%.

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Several brokerages have recently issued reports on ASB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 21st. BidaskClub raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, June 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $25.00 target price (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Associated Banc-Corp has a consensus rating of “Hold” and an average price target of $25.00.

In other news, insider Christopher C. Piotrowski sold 16,218 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the transaction, the insider now owns 30,479 shares of the company’s stock, valued at $717,780.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John A. Utz sold 8,054 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $23.62, for a total value of $190,235.48. Following the completion of the transaction, the insider now directly owns 44,405 shares of the company’s stock, valued at approximately $1,048,846.10. The disclosure for this sale can be found here. Insiders sold 38,772 shares of company stock valued at $914,334 in the last ninety days. 1.80% of the stock is currently owned by insiders.

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

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