Associated Banc-Corp (NYSE:ASB) Shares Acquired by Algert Global LLC

Algert Global LLC raised its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,713 shares of the bank’s stock after acquiring an additional 4,370 shares during the period. Algert Global LLC’s holdings in Associated Banc were worth $1,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ASB. Quest Partners LLC acquired a new stake in Associated Banc during the 2nd quarter valued at approximately $38,000. Farther Finance Advisors LLC lifted its stake in Associated Banc by 82.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after acquiring an additional 1,438 shares during the period. Neo Ivy Capital Management acquired a new stake in Associated Banc during the 2nd quarter valued at approximately $93,000. nVerses Capital LLC acquired a new stake in Associated Banc during the 2nd quarter valued at approximately $140,000. Finally, CWM LLC lifted its stake in Associated Banc by 30.6% during the 2nd quarter. CWM LLC now owns 7,084 shares of the bank’s stock valued at $150,000 after acquiring an additional 1,661 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Price Performance

Shares of NYSE ASB opened at $26.72 on Friday. The firm has a market cap of $4.04 billion, a PE ratio of 22.27, a PEG ratio of 1.96 and a beta of 0.91. The firm has a fifty day moving average of $23.72 and a 200 day moving average of $22.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. Associated Banc-Corp has a one year low of $17.30 and a one year high of $28.18.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million for the quarter, compared to analysts’ expectations of $336.52 million. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, research analysts predict that Associated Banc-Corp will post 2.13 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s payout ratio is 73.33%.

Analyst Upgrades and Downgrades

ASB has been the subject of several research reports. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Barclays lifted their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.89.

Insider Activity

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 15.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,641 shares of company stock valued at $1,435,936. 1.45% of the stock is currently owned by insiders.

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.