Dupont Capital Management Corp increased its position in shares of Associated Banc Corp (NYSE:ASB) by 10.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 14,771 shares of the bank’s stock after buying an additional 1,371 shares during the period. Dupont Capital Management Corp’s holdings in Associated Banc were worth $299,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in Associated Banc by 8.1% during the second quarter. Wells Fargo & Company MN now owns 2,489,109 shares of the bank’s stock worth $52,620,000 after buying an additional 187,513 shares during the last quarter. LSV Asset Management raised its stake in Associated Banc by 20.6% during the second quarter. LSV Asset Management now owns 2,221,064 shares of the bank’s stock worth $46,953,000 after buying an additional 379,450 shares during the last quarter. Pzena Investment Management LLC raised its stake in Associated Banc by 1.2% during the second quarter. Pzena Investment Management LLC now owns 2,133,134 shares of the bank’s stock worth $45,094,000 after buying an additional 24,292 shares during the last quarter. Balyasny Asset Management LLC raised its stake in Associated Banc by 167.4% during the second quarter. Balyasny Asset Management LLC now owns 1,840,627 shares of the bank’s stock worth $38,911,000 after buying an additional 1,152,212 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Associated Banc during the second quarter worth $35,221,000. 73.40% of the stock is owned by institutional investors and hedge funds.
ASB opened at $21.72 on Friday. Associated Banc Corp has a 1-year low of $18.52 and a 1-year high of $23.84. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a market cap of $3.40 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. The company has a fifty day moving average price of $20.27 and a two-hundred day moving average price of $20.67.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Associated Banc had a net margin of 21.73% and a return on equity of 9.71%. The firm had revenue of $307.00 million during the quarter, compared to the consensus estimate of $312.55 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, research analysts forecast that Associated Banc Corp will post 1.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.18 dividend. This is an increase from Associated Banc’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 29th. Associated Banc’s payout ratio is 33.50%.
A number of equities analysts recently weighed in on ASB shares. Bank of America set a $19.00 target price on shares of Associated Banc and gave the stock a “sell” rating in a research note on Friday, October 25th. ValuEngine downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. SunTrust Banks set a $22.00 target price on shares of Associated Banc and gave the stock a “hold” rating in a research note on Monday, September 9th. Zacks Investment Research raised shares of Associated Banc from a “strong sell” rating to a “hold” rating and set a $17.00 target price for the company in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada set a $23.00 target price on shares of Associated Banc and gave the stock a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Associated Banc presently has a consensus rating of “Hold” and an average target price of $22.00.
In other news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $20.48, for a total transaction of $40,960.00. Following the completion of the sale, the executive vice president now directly owns 56,745 shares of the company’s stock, valued at $1,162,137.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John A. Utz sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $20.04, for a total transaction of $60,120.00. Following the sale, the executive vice president now directly owns 59,348 shares of the company’s stock, valued at $1,189,333.92. The disclosure for this sale can be found here. Insiders own 2.69% of the company’s stock.
Associated Banc 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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