Axa Has $761,000 Stake in Associated Banc-Corp (ASB)

Axa maintained its position in Associated Banc-Corp (NYSE:ASB) during the first quarter, Holdings Channel reports. The firm owned 31,200 shares of the bank’s stock at the end of the first quarter. Axa’s holdings in Associated Banc-Corp were worth $761,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Associated Banc-Corp during the fourth quarter valued at approximately $50,013,000. Victory Capital Management Inc. boosted its stake in Associated Banc-Corp by 4.6% in the first quarter. Victory Capital Management Inc. now owns 5,176,832 shares of the bank’s stock worth $126,315,000 after buying an additional 228,539 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Associated Banc-Corp by 54.6% in the fourth quarter. Guggenheim Capital LLC now owns 122,227 shares of the bank’s stock worth $3,019,000 after buying an additional 43,185 shares in the last quarter. State Street Corp boosted its stake in Associated Banc-Corp by 12.4% in the fourth quarter. State Street Corp now owns 6,143,400 shares of the bank’s stock worth $151,739,000 after buying an additional 679,733 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Associated Banc-Corp by 2.5% in the first quarter. Retirement Systems of Alabama now owns 195,982 shares of the bank’s stock worth $4,782,000 after buying an additional 4,768 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

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

Associated Banc-Corp (NYSE:ASB) traded down 0.80% on Tuesday, hitting $24.95. The stock had a trading volume of 30,443 shares. Associated Banc-Corp has a 12-month low of $15.72 and a 12-month high of $26.70. The company has a market capitalization of $3.78 billion, a PE ratio of 18.62 and a beta of 1.18. The company has a 50 day moving average of $24.73 and a 200 day moving average of $24.83.

Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, April 20th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The company had revenue of $260.11 million for the quarter, compared to analysts’ expectations of $266.24 million. Associated Banc-Corp had a net margin of 18.36% and a return on equity of 7.20%. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities analysts expect that Associated Banc-Corp will post $1.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.91%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 35.82%.

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A number of equities research analysts recently weighed in on ASB shares. Zacks Investment Research cut Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 price target on shares of Associated Banc-Corp in a report on Thursday, March 23rd. SunTrust Banks, Inc. raised Associated Banc-Corp from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price target on shares of Associated Banc-Corp in a report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.72.

In related news, insider James Yee sold 2,330 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $25.46, for a total value of $59,321.80. Following the transaction, the insider now owns 69,852 shares of the company’s stock, valued at approximately $1,778,431.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $24.81, for a total transaction of $248,100.00. Following the completion of the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at approximately $3,165,383.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,330 shares of company stock worth $508,302. 1.80% of the stock is owned by insiders.

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.

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).

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