Associated Banc-Corp (NYSE:ASB) Shares Purchased by Foundry Partners LLC

Foundry Partners LLC boosted its position in Associated Banc-Corp (NYSE:ASB) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,423 shares of the bank’s stock after purchasing an additional 17,251 shares during the period. Foundry Partners LLC owned about 0.23% of Associated Banc worth $7,327,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Associated Banc in the fourth quarter valued at about $36,722,000. Vanguard Group Inc. lifted its position in shares of Associated Banc by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after acquiring an additional 184,813 shares during the period. Verition Fund Management LLC lifted its position in shares of Associated Banc by 50.2% during the 4th quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock valued at $46,652,000 after acquiring an additional 728,555 shares during the period. Tidal Investments LLC acquired a new stake in shares of Associated Banc during the 1st quarter valued at approximately $866,000. Finally, Mairs & Power Inc. lifted its position in shares of Associated Banc by 13.8% during the 4th quarter. Mairs & Power Inc. now owns 399,310 shares of the bank’s stock valued at $8,541,000 after acquiring an additional 48,432 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Jefferies Financial Group reduced their price target on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.67.

Associated Banc Trading Up 0.1 %

ASB stock traded up $0.02 during midday trading on Friday, hitting $21.84. The stock had a trading volume of 77,600 shares, compared to its average volume of 1,337,281. The firm has a market cap of $3.29 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc-Corp has a 12-month low of $15.16 and a 12-month high of $24.21. The company’s 50-day moving average price is $21.83 and its 200 day moving average price is $21.27.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $321.75 million during the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. Associated Banc’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 2.07 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 4.03%. Associated Banc’s payout ratio is currently 88.89%.

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 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.