Swiss National Bank boosted its position in Associated Banc Corp (NYSE:ASB) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,740 shares of the bank’s stock after buying an additional 3,600 shares during the period. Swiss National Bank owned approximately 0.19% of Associated Banc worth $6,463,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ASB. Executive Wealth Management LLC bought a new stake in Associated Banc in the 1st quarter valued at about $25,000. Nisa Investment Advisors LLC purchased a new position in shares of Associated Banc in the 2nd quarter worth approximately $67,000. Fox Run Management L.L.C. purchased a new position in shares of Associated Banc in the 2nd quarter worth approximately $228,000. FDx Advisors Inc. purchased a new position in shares of Associated Banc in the 2nd quarter worth approximately $272,000. Finally, CWM LLC boosted its stake in shares of Associated Banc by 56.5% in the 1st quarter. CWM LLC now owns 13,437 shares of the bank’s stock worth $287,000 after buying an additional 4,849 shares during the last quarter. 74.46% of the stock is owned by institutional investors and hedge funds.
Separately, Royal Bank of Canada set a $23.00 target price on Associated Banc and gave the stock a “hold” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.78.
Associated Banc stock opened at $18.72 on Wednesday. Associated Banc Corp has a 12 month low of $18.52 and a 12 month high of $27.95. 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 business’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $21.57. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.22 and a beta of 1.17.
Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, July 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $315.84 million. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, equities research analysts forecast that Associated Banc Corp will post 1.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 3.63%. Associated Banc’s payout ratio is 33.50%.
Associated Banc Company Profile
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.
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