Gateway Investment Advisers LLC increased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 35.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,811 shares of the bank’s stock after buying an additional 107,722 shares during the period. Gateway Investment Advisers LLC owned approximately 0.27% of Associated Banc-Corp worth $10,478,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake in shares of Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock valued at $118,000 after buying an additional 1,830 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock valued at $156,000 after buying an additional 30 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Associated Banc-Corp during the first quarter valued at about $210,000. Envestnet Asset Management Inc. increased its stake in shares of Associated Banc-Corp by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,195 shares of the bank’s stock valued at $224,000 after buying an additional 1,147 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Associated Banc-Corp by 3.5% in the first quarter. World Asset Management Inc now owns 9,393 shares of the bank’s stock valued at $229,000 after buying an additional 317 shares during the period. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
Associated Banc-Corp (ASB) traded up 0.86% on Tuesday, hitting $23.50. The company had a trading volume of 1,530,955 shares. The company has a market capitalization of $3.56 billion, a P/E ratio of 16.91 and a beta of 1.16. The stock’s 50-day moving average price is $24.51 and its 200 day moving average price is $24.76. Associated Banc-Corp has a one year low of $18.74 and a one year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $266.23 million for the quarter, compared to the consensus estimate of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same period in the prior year, the business earned $0.31 EPS. On average, analysts expect that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is currently 34.53%.
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Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 price target on shares of Associated Banc-Corp in a report on Friday, July 21st. BidaskClub upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and issued a $25.00 price target (up from $24.00) on shares of Associated Banc-Corp in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.00.
In other Associated Banc-Corp news, Director Eileen A. Kamerick sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $23.57, for a total transaction of $106,065.00. Following the completion of the sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $636,484.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John A. Utz sold 8,054 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $23.62, for a total value of $190,235.48. Following the sale, the insider now directly owns 44,405 shares of the company’s stock, valued at $1,048,846.10. The disclosure for this sale can be found here. Insiders have sold a total of 22,554 shares of company stock valued at $532,400 over the last three months. Corporate insiders own 1.80% of the company’s stock.
About Associated Banc-Corp
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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