Columbia Wanger Asset Management LLC lowered its position in Associated Banc-Corp (NYSE:ASB) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,878,981 shares of the company’s stock after selling 385,785 shares during the period. Associated Banc-Corp comprises about 1.0% of Columbia Wanger Asset Management LLC’s portfolio, making the stock its 19th largest position. Columbia Wanger Asset Management LLC owned about 1.93% of Associated Banc-Corp worth $71,111,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Teza Capital Management LLC acquired a new stake in shares of Associated Banc-Corp during the fourth quarter worth $879,000. Dimensional Fund Advisors LP raised its stake in shares of Associated Banc-Corp by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,546,302 shares of the company’s stock worth $285,196,000 after buying an additional 362,519 shares during the last quarter. State Street Corp raised its stake in shares of Associated Banc-Corp by 12.4% in the fourth quarter. State Street Corp now owns 6,143,400 shares of the company’s stock worth $151,739,000 after buying an additional 679,733 shares during the last quarter. Comerica Bank raised its stake in shares of Associated Banc-Corp by 6.3% in the fourth quarter. Comerica Bank now owns 110,177 shares of the company’s stock worth $2,771,000 after buying an additional 6,483 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its stake in shares of Associated Banc-Corp by 8.3% in the fourth quarter. Wesbanco Bank Inc. now owns 47,796 shares of the company’s stock worth $1,181,000 after buying an additional 3,675 shares during the last quarter. Institutional investors and hedge funds own 75.96% of the company’s stock.
Associated Banc-Corp (NYSE:ASB) traded up 0.98% during midday trading on Monday, reaching $25.70. The company’s stock had a trading volume of 517,552 shares. Associated Banc-Corp has a 12-month low of $15.72 and a 12-month high of $26.00. The stock’s 50 day moving average is $25.04 and its 200 day moving average is $21.70. The stock has a market cap of $3.90 billion, a P/E ratio of 20.40 and a beta of 1.18.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, January 19th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Associated Banc-Corp had a net margin of 17.31% and a return on equity of 6.81%. During the same period in the previous year, the firm posted $0.27 EPS. Analysts anticipate that Associated Banc-Corp will post $1.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, February 27th. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 38.10%.
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A number of brokerages have recently weighed in on ASB. JMP Securities began coverage on Associated Banc-Corp in a research note on Thursday, February 2nd. They set a “market perform” rating on the stock. Barclays PLC boosted their price target on Associated Banc-Corp to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, January 20th. Piper Jaffray Companies initiated coverage on Associated Banc-Corp in a research report on Thursday, January 12th. They issued a “neutral” rating and a $25.50 target price on the stock. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, January 3rd. Finally, SunTrust Banks, Inc. initiated coverage on Associated Banc-Corp in a research report on Tuesday, December 20th. They issued a “hold” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Associated Banc-Corp has an average rating of “Hold” and an average price target of $23.50.
In other news, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the chief executive officer now owns 126,501 shares in the company, valued at approximately $3,162,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Yee sold 4,660 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $24.10, for a total transaction of $112,306.00. Following the completion of the transaction, the insider now owns 62,695 shares in the company, valued at approximately $1,510,949.50. The disclosure for this sale can be found here. Insiders sold a total of 171,843 shares of company stock worth $4,272,150 in the last quarter. Company insiders own 2.09% 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 nonbanking 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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