Thrivent Financial For Lutherans lifted its stake in shares of Associated Banc Corp (NYSE:ASB) by 935.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 393,732 shares of the bank’s stock after buying an additional 355,709 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Associated Banc were worth $10,000,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Landaas & Co. WI ADV grew its position in shares of Associated Banc by 98.8% during the 4th quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after buying an additional 2,091 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Associated Banc during the 3rd quarter worth approximately $157,000. Savant Capital LLC acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $202,000. WoodTrust Financial Corp acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $212,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Associated Banc by 47.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,773 shares of the bank’s stock worth $223,000 after buying an additional 2,842 shares during the period. 77.92% of the stock is owned by institutional investors.
Shares of Associated Banc Corp (NYSE ASB) opened at $26.70 on Wednesday. Associated Banc Corp has a 52-week low of $20.95 and a 52-week high of $27.20. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market cap of $4,080.41, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.17 and a beta of 1.03.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 28th. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 2.25%. Associated Banc’s dividend payout ratio (DPR) is 41.96%.
In other Associated Banc news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $25.08, for a total transaction of $250,800.00. Following the transaction, the chief executive officer now directly owns 122,457 shares in the company, valued at approximately $3,071,221.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 4,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $26.59, for a total value of $106,360.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,153 shares of company stock worth $3,289,459. Company insiders own 1.80% of the company’s stock.
Several brokerages have recently commented on ASB. Morgan Stanley reduced their price objective on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 31st. Piper Jaffray Companies reissued a “hold” rating and issued a $27.00 price target on shares of Associated Banc in a research report on Tuesday, January 9th. Barclays lifted their price target on shares of Associated Banc from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. SunTrust Banks reissued a “hold” rating and issued a $27.00 price target on shares of Associated Banc in a research report on Wednesday, November 29th. Finally, Zacks Investment Research downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $26.30.
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Associated Banc 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 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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