Hotchkis & Wiley Capital Management LLC cut its position in shares of Associated Banc-Corp (NYSE:ASB) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,976 shares of the company’s stock after selling 4,430 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.81% of Associated Banc-Corp worth $30,232,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in Associated Banc-Corp by 0.3% in the second quarter. Retirement Systems of Alabama now owns 193,670 shares of the company’s stock worth $3,321,000 after buying an additional 632 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Associated Banc-Corp during the second quarter worth $347,000. Vanguard Group Inc. raised its position in shares of Associated Banc-Corp by 2.1% in the second quarter. Vanguard Group Inc. now owns 10,798,124 shares of the company’s stock worth $185,188,000 after buying an additional 225,668 shares in the last quarter. CNA Financial Corp raised its position in shares of Associated Banc-Corp by 1.7% in the second quarter. CNA Financial Corp now owns 91,050 shares of the company’s stock worth $1,561,000 after buying an additional 1,550 shares in the last quarter. Finally, Walleye Trading LLC raised its position in shares of Associated Banc-Corp by 445.9% in the second quarter. Walleye Trading LLC now owns 47,438 shares of the company’s stock worth $814,000 after buying an additional 38,748 shares in the last quarter. 75.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 2.72% during mid-day trading on Tuesday, hitting $26.40. The stock had a trading volume of 744,414 shares. The firm has a market cap of $4.01 billion, a P/E ratio of 20.95 and a beta of 1.18. Associated Banc-Corp has a 12-month low of $15.72 and a 12-month high of $26.50. The company has a 50 day moving average price of $25.06 and a 200 day moving average price of $21.80.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, January 19th. The company reported $0.34 EPS for the quarter, beating the Zacks’ 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 company posted $0.27 earnings per share. Equities analysts forecast that Associated Banc-Corp will post $1.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, February 27th. Associated Banc-Corp’s dividend payout ratio is currently 38.10%.
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ASB has been the topic of a number of recent analyst reports. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, November 1st. Jefferies Group LLC lowered Associated Banc-Corp from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a report on Monday, November 28th. Barclays PLC upped their price objective on Associated Banc-Corp from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 6th. Bank of America Corporation raised Associated Banc-Corp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $26.00 in a report on Thursday, December 15th. Finally, SunTrust Banks, Inc. initiated coverage on Associated Banc-Corp in a report on Tuesday, December 20th. They set a “hold” rating and a $26.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.50.
In related news, insider James Yee sold 8,599 shares of the company’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $25.15, for a total value of $216,264.85. Following the completion of the sale, the insider now owns 67,522 shares in the company, valued at approximately $1,698,178.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott Hickey sold 44,616 shares of the company’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $25.31, for a total transaction of $1,129,230.96. Following the completion of the sale, the insider now owns 39,178 shares of the company’s stock, valued at approximately $991,595.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,843 shares of company stock valued at $4,272,150. 2.09% of the stock is owned by corporate insiders.
Associated Banc-Corp Company Profile
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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