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.
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%.
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.
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