BlackRock Inc. Has $374.69 Million Stock Position in Associated Banc-Corp (NYSE:ASB)

BlackRock Inc. boosted its holdings in Associated Banc-Corp (NYSE:ASB – Get Rating) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,660,033 shares of the bank’s stock after buying an additional 523,996 shares during the period. BlackRock Inc. owned approximately 12.41% of Associated Banc worth $374,694,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Guardian Wealth Advisors LLC bought a new stake in shares of Associated Banc during the 3rd quarter worth approximately $26,000. Quadrant Capital Group LLC increased its position in Associated Banc by 94.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,779 shares of the bank’s stock worth $36,000 after buying an additional 862 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Associated Banc in the 1st quarter worth about $91,000. Covestor Ltd grew its position in Associated Banc by 67.3% during the first quarter. Covestor Ltd now owns 4,793 shares of the bank’s stock worth $109,000 after buying an additional 1,928 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in Associated Banc by 1,891.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 5,735 shares of the bank’s stock valued at $131,000 after buying an additional 5,447 shares during the period. 78.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lith Karen Van sold 4,889 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $23.93, for a total transaction of $116,993.77. Following the sale, the director now directly owns 58,677 shares in the company, valued at $1,404,140.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lith Karen Van sold 4,889 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $23.93, for a total value of $116,993.77. Following the sale, the director now owns 58,677 shares in the company, valued at approximately $1,404,140.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Williams sold 1,840 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $23.95, for a total transaction of $44,068.00. Following the transaction, the director now directly owns 57,576 shares in the company, valued at $1,378,945.20. The disclosure for this sale can be found here. Insiders own 3.04% of the company’s stock.

Associated Banc Stock Down 6.3 %

NYSE ASB opened at $20.58 on Friday. Associated Banc-Corp has a fifty-two week low of $17.45 and a fifty-two week high of $25.50. The business has a fifty day moving average price of $23.04 and a two-hundred day moving average price of $22.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $3.10 billion, a PE ratio of 8.76, a PEG ratio of 1.12 and a beta of 1.01.

Associated Banc (NYSE:ASB – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Associated Banc had a net margin of 25.65% and a return on equity of 9.70%. The business had revenue of $452.94 million during the quarter, compared to analysts’ expectations of $347.92 million. During the same period in the prior year, the company earned $0.49 EPS. Equities analysts expect that Associated Banc-Corp will post 2.47 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

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 dividend of $0.21 per share. The ex-dividend date is Tuesday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.08%. Associated Banc’s dividend payout ratio is currently 35.74%.

Associated Banc Profile

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Associated Banc-Corp. is a holding company, which engages in banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.