Mitsubishi UFJ Trust & Banking Corp Decreases Position in Associated Banc-Corp (NYSE:ASB)

Mitsubishi UFJ Trust & Banking Corp cut its position in Associated Banc-Corp (NYSE:ASBGet Rating) by 20.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,446 shares of the bank’s stock after selling 4,457 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Associated Banc were worth $319,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Eaton Vance Management raised its holdings in Associated Banc by 1.1% in the first quarter. Eaton Vance Management now owns 46,341 shares of the bank’s stock worth $1,054,000 after buying an additional 526 shares during the last quarter. US Bancorp DE raised its holdings in Associated Banc by 0.8% in the first quarter. US Bancorp DE now owns 74,429 shares of the bank’s stock worth $1,694,000 after buying an additional 561 shares during the last quarter. SG Americas Securities LLC raised its holdings in Associated Banc by 1.2% in the second quarter. SG Americas Securities LLC now owns 46,972 shares of the bank’s stock worth $858,000 after buying an additional 566 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Associated Banc by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 29,549 shares of the bank’s stock worth $539,000 after buying an additional 689 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Associated Banc by 11.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,451 shares of the bank’s stock worth $192,000 after buying an additional 884 shares during the last quarter. 81.06% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Performance

Shares of ASB stock opened at $24.71 on Wednesday. The company has a 50 day moving average price of $22.38 and a 200-day moving average price of $20.71. Associated Banc-Corp has a 52 week low of $17.45 and a 52 week high of $25.78. The firm has a market capitalization of $3.72 billion, a PE ratio of 11.55, a P/E/G ratio of 1.31 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.07.

Associated Banc (NYSE:ASBGet Rating) last announced its earnings results on Thursday, October 20th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $340.07 million during the quarter, compared to analyst estimates of $317.27 million. Associated Banc had a net margin of 26.57% and a return on equity of 8.85%. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, equities research analysts expect that Associated Banc-Corp will post 2.28 earnings per share for the current year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.40%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, November 30th. Associated Banc’s payout ratio is 37.38%.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 12,659 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $23.48, for a total transaction of $297,233.32. Following the completion of the sale, the executive vice president now directly owns 73,022 shares in the company, valued at $1,714,556.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Associated Banc news, EVP David L. Stein sold 12,000 shares of Associated Banc stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $24.32, for a total transaction of $291,840.00. Following the transaction, the executive vice president now owns 70,485 shares of the company’s stock, valued at $1,714,195.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 12,659 shares of Associated Banc stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $23.48, for a total transaction of $297,233.32. Following the transaction, the executive vice president now directly owns 73,022 shares in the company, valued at approximately $1,714,556.56. The disclosure for this sale can be found here. 3.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ASB. Stephens lifted their price target on shares of Associated Banc to $23.00 in a research note on Tuesday, August 23rd. Bank of America upgraded shares of Associated Banc from an “underperform” rating to a “neutral” rating and set a $24.00 price target for the company in a research note on Tuesday, October 25th. Finally, StockNews.com began coverage on shares of Associated Banc in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

About Associated Banc

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Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.

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Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

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