Public Employees Retirement System of Ohio Increases Position in Associated Banc Corp (NYSE:ASB)

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Public Employees Retirement System of Ohio raised its holdings in Associated Banc Corp (NYSE:ASB) by 1.5% in the third quarter, Holdings Channel reports. The fund owned 112,308 shares of the bank’s stock after buying an additional 1,674 shares during the period. Public Employees Retirement System of Ohio’s holdings in Associated Banc were worth $2,274,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Associated Banc by 8.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,534 shares of the bank’s stock worth $349,000 after purchasing an additional 1,232 shares during the last quarter. Arizona State Retirement System grew its holdings in Associated Banc by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 118,958 shares of the bank’s stock valued at $2,515,000 after buying an additional 953 shares in the last quarter. First Trust Advisors LP grew its holdings in Associated Banc by 26.3% in the 2nd quarter. First Trust Advisors LP now owns 446,140 shares of the bank’s stock valued at $9,431,000 after buying an additional 92,764 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Associated Banc by 16,898.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 53,376 shares of the bank’s stock valued at $1,128,000 after buying an additional 53,062 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Associated Banc in the 2nd quarter worth $2,910,000. Institutional investors own 73.30% of the company’s stock.

Several research analysts have recently commented on the company. ValuEngine upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Robert W. Baird lowered shares of Associated Banc from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 3rd. Zacks Investment Research upgraded shares of Associated Banc from a “strong sell” rating to a “hold” rating and set a $17.00 price objective for the company in a research report on Tuesday, October 29th. 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. Finally, Stephens set a $22.00 target price on shares of Associated Banc and gave the stock a “hold” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $22.00.

In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $20.48, for a total value of $40,960.00. Following the transaction, the executive vice president now owns 56,745 shares of the company’s stock, valued at $1,162,137.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William M. Bohn sold 15,481 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $21.53, for a total transaction of $333,305.93. Following the completion of the transaction, the executive vice president now directly owns 73,721 shares in the company, valued at approximately $1,587,213.13. The disclosure for this sale can be found here. Insiders have sold a total of 53,281 shares of company stock valued at $1,147,056 over the last three months. Corporate insiders own 2.69% of the company’s stock.

Shares of Associated Banc stock opened at $21.62 on Friday. The stock has a 50 day moving average of $21.14 and a 200 day moving average of $20.55. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.39 and a beta of 1.21. Associated Banc Corp has a fifty-two week low of $18.52 and a fifty-two week high of $23.83.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Associated Banc had a return on equity of 9.71% and a net margin of 21.73%. The company had revenue of $307.00 million for the quarter, compared to the consensus estimate of $312.55 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts forecast that Associated Banc Corp will post 1.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Associated Banc’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, November 29th. Associated Banc’s dividend payout ratio (DPR) is presently 35.47%.

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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Want to see what other hedge funds are holding ASB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Associated Banc Corp (NYSE:ASB).

Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

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