JPMorgan Chase & Co. lowered its stake in shares of Associated Banc-Corp (NYSE:ASB) by 0.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,650,720 shares of the bank’s stock after selling 13,056 shares during the period. JPMorgan Chase & Co. owned approximately 3.08% of Associated Banc worth $112,082,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its position in shares of Associated Banc by 0.5% during the second quarter. Wedge Capital Management L L P NC now owns 27,159 shares of the bank’s stock valued at $684,000 after buying an additional 123 shares during the last quarter. Citigroup Inc. raised its position in shares of Associated Banc by 1.0% during the second quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock valued at $407,000 after buying an additional 155 shares during the last quarter. World Asset Management Inc raised its position in shares of Associated Banc by 2.5% during 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 last quarter. Teacher Retirement System of Texas raised its position in shares of Associated Banc by 3.3% during the second quarter. Teacher Retirement System of Texas now owns 12,169 shares of the bank’s stock valued at $307,000 after buying an additional 384 shares during the last quarter. Finally, Utah Retirement Systems raised its position in shares of Associated Banc by 1.8% during the second quarter. Utah Retirement Systems now owns 27,628 shares of the bank’s stock valued at $696,000 after buying an additional 500 shares during the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on ASB shares. Zacks Investment Research lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. SunTrust Banks set a $26.00 price objective on shares of Associated Banc and gave the company a “hold” rating in a research report on Saturday, October 21st. Robert W. Baird reissued a “hold” rating and issued a $25.00 price target on shares of Associated Banc in a research report on Sunday, October 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 price target on shares of Associated Banc in a research report on Tuesday, August 22nd. Finally, BidaskClub lowered shares of Associated Banc from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Associated Banc has an average rating of “Hold” and an average target price of $25.91.
Associated Banc-Corp (NYSE:ASB) opened at $25.55 on Monday. Associated Banc-Corp has a 52-week low of $20.95 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market cap of $3,862.26, a PE ratio of 17.50, a P/E/G ratio of 2.43 and a beta of 1.19.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. The firm had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. analysts expect that Associated Banc-Corp will post 1.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.3828 dividend. This represents a $1.53 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend is Thursday, November 30th. Associated Banc’s dividend payout ratio (DPR) is presently 38.36%.
In other news, EVP Breck F. Hanson sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $25.71, for a total transaction of $154,260.00. Following the completion of the sale, the executive vice president now owns 15,536 shares of the company’s stock, valued at $399,430.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Hutchinson sold 4,632 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $25.70, for a total transaction of $119,042.40. Following the sale, the director now directly owns 91,209 shares of the company’s stock, valued at approximately $2,344,071.30. The disclosure for this sale can be found here. Insiders sold 59,950 shares of company stock valued at $1,520,429 in the last three months. Company insiders own 1.80% of the company’s stock.
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About Associated Banc
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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