Swiss National Bank Sells 2,500 Shares of Associated Banc-Corp (NYSE:ASB)

Swiss National Bank decreased its stake in shares of Associated Banc-Corp (NYSE:ASBGet Rating) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 352,340 shares of the bank’s stock after selling 2,500 shares during the quarter. Swiss National Bank’s holdings in Associated Banc were worth $6,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASB. Exchange Traded Concepts LLC bought a new position in Associated Banc in the second quarter worth approximately $33,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Associated Banc in the first quarter worth approximately $91,000. Covestor Ltd raised its position in Associated Banc by 67.3% in the first quarter. Covestor Ltd now owns 4,793 shares of the bank’s stock worth $109,000 after acquiring an additional 1,928 shares during the period. Point72 Hong Kong Ltd raised its position in Associated Banc by 1,891.3% in the first quarter. Point72 Hong Kong Ltd now owns 5,735 shares of the bank’s stock worth $131,000 after acquiring an additional 5,447 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in Associated Banc in the second quarter worth approximately $110,000. Institutional investors own 81.06% of the company’s stock.

Insider Activity at Associated Banc

In related news, insider Tammy C. Stadler sold 10,941 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $24.68, for a total transaction of $270,023.88. Following the completion of the transaction, the insider now directly owns 57,510 shares of the company’s stock, valued at $1,419,346.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP David L. Stein sold 12,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 70,485 shares of the company’s stock, valued at $1,714,195.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tammy C. Stadler sold 10,941 shares of Associated Banc stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $24.68, for a total transaction of $270,023.88. Following the completion of the transaction, the insider now directly owns 57,510 shares of the company’s stock, valued at $1,419,346.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,600 shares of company stock valued at $859,097. Corporate insiders own 3.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America upgraded shares of Associated Banc from an “underperform” rating to a “neutral” rating and set a $24.00 price target on the stock in a research report on Tuesday, October 25th. Stephens increased their price target on shares of Associated Banc to $23.00 in a research report on Tuesday, August 23rd. Finally, StockNews.com initiated coverage on shares of Associated Banc in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $24.33 on Thursday. The firm has a fifty day moving average price of $22.46 and a 200-day moving average price of $20.74. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $3.66 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. Associated Banc-Corp has a 1 year low of $17.45 and a 1 year high of $25.78.

Associated Banc (NYSE:ASBGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $340.07 million during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.56 earnings per share. Equities analysts anticipate that Associated Banc-Corp will post 2.28 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.45%. This is a boost from Associated Banc’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 30th. Associated Banc’s dividend payout ratio (DPR) is presently 37.38%.

About Associated Banc

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding ASB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Associated Banc-Corp (NYSE:ASBGet Rating).

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

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