Mutual of America Capital Management LLC grew its position in Associated Banc Corp (NYSE:ASB) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 208,819 shares of the bank’s stock after acquiring an additional 2,158 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Associated Banc were worth $5,429,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in shares of Associated Banc by 20.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,699 shares of the bank’s stock valued at $456,000 after purchasing an additional 2,808 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Associated Banc by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,018,810 shares of the bank’s stock valued at $55,113,000 after purchasing an additional 9,366 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Associated Banc during the 2nd quarter valued at approximately $1,246,000. Pzena Investment Management LLC increased its position in shares of Associated Banc by 2.3% during the 2nd quarter. Pzena Investment Management LLC now owns 2,239,624 shares of the bank’s stock valued at $61,142,000 after purchasing an additional 50,670 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Associated Banc during the 2nd quarter valued at approximately $469,000. 76.56% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded Associated Banc from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded Associated Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Robert W. Baird cut their target price on Associated Banc from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Wells Fargo & Co set a $27.00 target price on Associated Banc and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Finally, Sandler O’Neill downgraded Associated Banc from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Associated Banc presently has an average rating of “Hold” and an average target price of $28.15.
Shares of Associated Banc stock opened at $21.63 on Friday. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.55 and a beta of 0.99. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.91 and a current ratio of 0.92. Associated Banc Corp has a 52 week low of $21.10 and a 52 week high of $29.02.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The company had revenue of $307.69 million for the quarter, compared to the consensus estimate of $321.04 million. Associated Banc had a return on equity of 9.44% and a net margin of 20.53%. During the same quarter in the prior year, the company posted $0.34 EPS. On average, equities analysts expect that Associated Banc Corp will post 1.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Associated Banc’s previous quarterly dividend of $0.15. Associated Banc’s dividend payout ratio is 44.74%.
In other Associated Banc news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $22.81, for a total value of $228,100.00. Following the transaction, the chief executive officer now owns 114,684 shares of the company’s stock, valued at approximately $2,615,942.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Flynn acquired 115,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $2,875,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 121,107 shares of company stock worth $3,027,442 in the last ninety days. 2.13% of the stock is currently owned by corporate insiders.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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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