Mutual of America Capital Management LLC Has $1.90 Million Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Mutual of America Capital Management LLC lessened its position in Associated Banc-Corp (NYSE:ASB) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,374 shares of the bank’s stock after selling 629 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Associated Banc worth $1,901,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASB. Proficio Capital Partners LLC acquired a new position in Associated Banc in the 4th quarter valued at $353,000. Swiss National Bank grew its position in shares of Associated Banc by 0.8% in the 4th quarter. Swiss National Bank now owns 296,740 shares of the bank’s stock valued at $7,092,000 after buying an additional 2,400 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Associated Banc in the 4th quarter valued at about $362,000. Thrivent Financial for Lutherans boosted its position in shares of Associated Banc by 32.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 216,046 shares of the bank’s stock valued at $5,163,000 after purchasing an additional 53,043 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Associated Banc by 12.9% during the 4th quarter. Xponance Inc. now owns 22,864 shares of the bank’s stock valued at $546,000 after purchasing an additional 2,604 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insider Activity

In related news, CEO Andrew J. Harmening purchased 12,910 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the transaction, the chief executive officer owned 319,269 shares in the company, valued at approximately $7,423,004.25. The trade was a 4.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

ASB has been the topic of a number of research reports. Barclays upped their price target on Associated Banc from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Stephens lowered their price objective on Associated Banc from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods lowered their price objective on Associated Banc from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company increased their price objective on Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $27.00 price target on shares of Associated Banc in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.22.

Associated Banc Stock Performance

Associated Banc stock opened at $25.87 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $4.29 billion, a P/E ratio of 30.08, a PEG ratio of 0.97 and a beta of 0.80. The stock’s 50 day moving average is $24.15 and its 200 day moving average is $23.44. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $348.97 million for the quarter, compared to the consensus estimate of $347.86 million. Associated Banc had a return on equity of 8.47% and a net margin of 6.02%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.56%. Associated Banc’s dividend payout ratio (DPR) is 106.98%.

Associated Banc Company 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 offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.