Thrivent Financial For Lutherans raised its stake in Associated Banc Corp (NYSE:ASB) by 935.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,732 shares of the bank’s stock after acquiring an additional 355,709 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.23% of Associated Banc worth $10,000,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ASB. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Associated Banc by 62.2% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 3,674,521 shares of the bank’s stock worth $89,107,000 after acquiring an additional 1,409,435 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Associated Banc in the fourth quarter worth about $27,878,000. Mackenzie Financial Corp bought a new position in shares of Associated Banc in the fourth quarter worth about $16,071,000. BlackRock Inc. raised its holdings in Associated Banc by 3.8% in the 4th quarter. BlackRock Inc. now owns 12,786,592 shares of the bank’s stock valued at $324,779,000 after buying an additional 471,331 shares during the last quarter. Finally, LSV Asset Management raised its holdings in Associated Banc by 102.3% in the 4th quarter. LSV Asset Management now owns 917,315 shares of the bank’s stock valued at $23,299,000 after buying an additional 463,800 shares during the last quarter. 77.92% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Associated Banc from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Morgan Stanley dropped their price objective on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, January 31st. Barclays reiterated a “hold” rating and issued a $28.00 price objective on shares of Associated Banc in a report on Tuesday, January 30th. SunTrust Banks reiterated a “hold” rating and issued a $27.00 price objective on shares of Associated Banc in a report on Wednesday, November 29th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $27.00 price objective on shares of Associated Banc in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.30.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 25th. The bank reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). The firm had revenue of $272.00 million for the quarter, compared to analyst estimates of $281.38 million. Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. equities analysts expect that Associated Banc Corp will post 1.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, February 28th. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. Associated Banc’s dividend payout ratio is currently 41.96%.
In other Associated Banc news, CFO Moral-Niles Christopher Del sold 4,000 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $26.59, for a total transaction of $106,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David L. Stein sold 15,400 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $25.40, for a total transaction of $391,160.00. Following the sale, the insider now directly owns 36,685 shares of the company’s stock, valued at approximately $931,799. The disclosure for this sale can be found here. Insiders have sold a total of 130,153 shares of company stock valued at $3,289,459 in the last three months. Insiders own 1.80% of the company’s stock.
About Associated Banc
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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