Tower Research Capital LLC TRC lifted its position in Associated Banc-Corp (NYSE:ASB – Free Report) by 64.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,068 shares of the bank’s stock after acquiring an additional 3,547 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Associated Banc were worth $163,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in ASB. Norges Bank acquired a new position in shares of Associated Banc in the 4th quarter worth approximately $36,376,000. Victory Capital Management Inc. grew its position in shares of Associated Banc by 885.4% in the 1st quarter. Victory Capital Management Inc. now owns 703,320 shares of the bank’s stock worth $12,646,000 after acquiring an additional 631,944 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Associated Banc by 2,414.0% in the 1st quarter. Renaissance Technologies LLC now owns 475,931 shares of the bank’s stock worth $10,832,000 after acquiring an additional 457,000 shares in the last quarter. Millennium Management LLC boosted its position in Associated Banc by 33.6% during the 4th quarter. Millennium Management LLC now owns 1,460,763 shares of the bank’s stock valued at $33,729,000 after purchasing an additional 367,735 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Associated Banc by 14.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,663,911 shares of the bank’s stock valued at $47,897,000 after purchasing an additional 339,724 shares during the period. Institutional investors and hedge funds own 80.52% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on ASB shares. Stephens boosted their price objective on Associated Banc from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 21st. Piper Sandler boosted their price objective on Associated Banc from $17.50 to $18.50 in a research report on Friday, July 21st. StockNews.com started coverage on Associated Banc in a research report on Thursday, August 17th. They set a “sell” rating for the company. Finally, Raymond James boosted their price objective on Associated Banc from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Associated Banc currently has a consensus rating of “Hold” and a consensus target price of $21.69.
Insider Transactions at Associated Banc
In other news, EVP Randall J. Erickson sold 26,335 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $19.00, for a total transaction of $500,365.00. Following the sale, the executive vice president now directly owns 138,055 shares of the company’s stock, valued at $2,623,045. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.49% of the stock is owned by insiders.
Associated Banc Stock Up 1.2 %
ASB opened at $17.14 on Wednesday. Associated Banc-Corp has a one year low of $14.47 and a one year high of $25.50. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average is $17.49 and its 200-day moving average is $18.05. The company has a market capitalization of $2.59 billion, a PE ratio of 6.72, a P/E/G ratio of 0.95 and a beta of 1.02.
Associated Banc (NYSE:ASB – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). Associated Banc had a return on equity of 10.25% and a net margin of 20.93%. The firm had revenue of $328.25 million during the quarter, compared to the consensus estimate of $332.65 million. On average, equities analysts predict that Associated Banc-Corp will post 2.22 EPS for the current fiscal year.
Associated Banc Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Thursday, August 31st. Associated Banc’s dividend payout ratio (DPR) is presently 33.07%.
Associated Banc Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.
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