Mercer Global Advisors Inc. ADV Lowers Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Mercer Global Advisors Inc. ADV trimmed its holdings in shares of Associated Banc-Corp (NYSE:ASBGet Rating) by 12.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,835 shares of the bank’s stock after selling 2,286 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Associated Banc were worth $389,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Profund Advisors LLC purchased a new position in shares of Associated Banc during the fourth quarter valued at approximately $212,000. Creative Planning purchased a new position in Associated Banc in the 3rd quarter worth approximately $224,000. Seven Eight Capital LP purchased a new position in Associated Banc in the 3rd quarter worth approximately $693,000. Pearl River Capital LLC purchased a new position in Associated Banc in the 3rd quarter worth approximately $317,000. Finally, Belpointe Asset Management LLC purchased a new position in Associated Banc in the 4th quarter worth approximately $80,000. 78.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASB has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of Associated Banc in a report on Wednesday, March 15th. They issued a “neutral” rating and a $22.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Associated Banc from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $21.00 target price on shares of Associated Banc in a research note on Friday, April 21st. StockNews.com started coverage on shares of Associated Banc in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Associated Banc from $26.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Associated Banc currently has a consensus rating of “Hold” and a consensus target price of $22.29.

Associated Banc Trading Up 1.7 %

Shares of ASB stock opened at $15.92 on Wednesday. Associated Banc-Corp has a 1 year low of $14.47 and a 1 year high of $25.50. The firm has a fifty day moving average price of $17.11 and a 200-day moving average price of $21.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 6.27, a PEG ratio of 0.79 and a beta of 0.98.

Associated Banc (NYSE:ASBGet Rating) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Associated Banc had a net margin of 23.87% and a return on equity of 10.35%. The firm had revenue of $504.89 million during the quarter, compared to the consensus estimate of $349.71 million. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, equities analysts predict that Associated Banc-Corp will post 2.4 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Wednesday, May 31st. Associated Banc’s payout ratio is 33.07%.

Insider Activity

In other Associated Banc news, Director R Jay Gerken acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was purchased at an average price of $16.07 per share, with a total value of $48,210.00. Following the transaction, the director now directly owns 42,036 shares in the company, valued at approximately $675,518.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director R Jay Gerken bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was bought at an average price of $16.07 per share, with a total value of $48,210.00. Following the acquisition, the director now owns 42,036 shares of the company’s stock, valued at approximately $675,518.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Haddad bought 5,750 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was purchased at an average cost of $17.35 per share, with a total value of $99,762.50. Following the acquisition, the director now directly owns 5,750 shares in the company, valued at approximately $99,762.50. The disclosure for this purchase can be found here. Insiders acquired a total of 13,600 shares of company stock valued at $247,737 in the last 90 days. Company insiders own 1.49% of the company’s stock.

About Associated Banc

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Associated Banc-Corp. is a holding company, which engages in banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.

Further Reading

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

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