Pacer Advisors Inc. purchased a new position in shares of Associated Banc Corp (NYSE:ASB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 65,378 shares of the bank’s stock, valued at approximately $1,382,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Mason Street Advisors LLC raised its stake in shares of Associated Banc by 0.6% in the first quarter. Mason Street Advisors LLC now owns 87,391 shares of the bank’s stock worth $1,866,000 after purchasing an additional 554 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Associated Banc by 2.1% in the second quarter. State of Alaska Department of Revenue now owns 32,507 shares of the bank’s stock valued at $686,000 after acquiring an additional 668 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Associated Banc by 0.7% in the second quarter. Nicolet Advisory Services LLC now owns 112,043 shares of the bank’s stock valued at $2,369,000 after acquiring an additional 830 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Associated Banc by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 69,390 shares of the bank’s stock valued at $1,467,000 after acquiring an additional 939 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Associated Banc by 0.8% in the second quarter. Arizona State Retirement System now owns 118,958 shares of the bank’s stock valued at $2,515,000 after acquiring an additional 953 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
In other Associated Banc news, EVP John A. Utz sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $20.04, for a total transaction of $60,120.00. Following the sale, the executive vice president now owns 59,348 shares in the company, valued at $1,189,333.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Moral-Niles Christopher Del sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $26.50, for a total value of $53,000.00. The disclosure for this sale can be found here. Insiders sold 19,698 shares of company stock worth $422,887 in the last quarter. 2.69% of the stock is currently owned by company insiders.
Shares of NYSE:ASB traded up $0.12 during trading on Friday, hitting $20.43. 22,138 shares of the company were exchanged, compared to its average volume of 808,588. The company has a market cap of $3.25 billion, a PE ratio of 10.06, a P/E/G ratio of 1.30 and a beta of 1.20. The stock has a 50 day moving average of $19.86 and a 200 day moving average of $21.29. Associated Banc Corp has a 52-week low of $18.52 and a 52-week high of $27.30. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.91.
Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. The company had revenue of $309.46 million for the quarter, compared to the consensus estimate of $315.84 million. During the same quarter last year, the business posted $0.53 earnings per share. Sell-side analysts forecast that Associated Banc Corp will post 1.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a $0.17 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.33%. Associated Banc’s dividend payout ratio (DPR) is presently 33.50%.
Several equities analysts have recently issued reports on ASB shares. Royal Bank of Canada set a $23.00 target price on Associated Banc and gave the company a “hold” rating in a report on Friday, July 26th. SunTrust Banks set a $22.00 price objective on Associated Banc and gave the company a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.
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. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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