LS Investment Advisors LLC decreased its holdings in Associated Banc Corp (NYSE:ASB) by 15.4% in the 4th quarter, HoldingsChannel reports. The firm owned 12,449 shares of the bank’s stock after selling 2,267 shares during the quarter. LS Investment Advisors LLC’s holdings in Associated Banc were worth $316,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Swiss National Bank grew its stake in shares of Associated Banc by 1.9% in the fourth quarter. Swiss National Bank now owns 257,800 shares of the bank’s stock worth $6,548,000 after purchasing an additional 4,900 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Associated Banc by 4.6% in the fourth quarter. California Public Employees Retirement System now owns 428,980 shares of the bank’s stock worth $10,896,000 after purchasing an additional 19,046 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Associated Banc by 315.4% in the fourth quarter. Teacher Retirement System of Texas now owns 52,202 shares of the bank’s stock worth $1,326,000 after purchasing an additional 39,636 shares in the last quarter. Landaas & Co. WI ADV grew its stake in shares of Associated Banc by 98.8% in the fourth quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Maltese Capital Management LLC grew its stake in shares of Associated Banc by 63.7% in the fourth quarter. Maltese Capital Management LLC now owns 745,038 shares of the bank’s stock worth $18,924,000 after purchasing an additional 290,038 shares in the last quarter. 66.57% of the stock is owned by institutional investors.
In other news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $25.08, for a total transaction of $250,800.00. Following the completion of the sale, the chief executive officer now directly owns 122,457 shares of the company’s stock, valued at $3,071,221.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John P. Hankerd sold 8,012 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $23.95, for a total value of $191,887.40. Following the sale, the executive vice president now directly owns 27,648 shares of the company’s stock, valued at $662,169.60. The disclosure for this sale can be found here. Insiders have sold 89,383 shares of company stock valued at $2,241,763 in the last ninety days. Company insiders own 1.80% of the company’s stock.
Several research analysts have recently issued reports on ASB shares. Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays reissued a “hold” rating and issued a $28.00 price target on shares of Associated Banc in a research note on Tuesday, January 30th. Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price target on shares of Associated Banc in a research note on Sunday, January 28th. SunTrust Banks reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc in a research note on Wednesday, November 29th. Finally, Morgan Stanley raised their target price on Associated Banc from $25.50 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. Associated Banc has a consensus rating of “Hold” and an average target price of $26.30.
Associated Banc Corp (NYSE ASB) opened at $24.90 on Tuesday. Associated Banc Corp has a 52 week low of $20.95 and a 52 week high of $26.70. The firm has a market capitalization of $3,777.03, a PE ratio of 16.27, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.
Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 25th. The bank reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The firm had revenue of $272.00 million for the quarter, compared to the consensus estimate of $281.38 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. equities analysts forecast that Associated Banc Corp will post 1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 2.41%. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. Associated Banc’s dividend payout ratio (DPR) is currently 39.16%.
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Associated Banc Company Profile
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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