Associated Banc-Corp (NYSE:ASB) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 117.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,697 shares of the bank’s stock after purchasing an additional 23,076 shares during the quarter. Intech Investment Management LLC’s holdings in Associated Banc were worth $920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Associated Banc during the 2nd quarter valued at approximately $38,000. Farther Finance Advisors LLC raised 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 in the last quarter. Neo Ivy Capital Management bought a new stake in Associated Banc during the 2nd quarter valued at $93,000. nVerses Capital LLC bought a new stake in Associated Banc during the 2nd quarter valued at $140,000. Finally, CWM LLC raised 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 in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ASB. Royal Bank of Canada lifted their target price on Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Barclays lifted their target price on Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Associated Banc presently has a consensus rating of “Hold” and a consensus price target of $23.89.

Insider Activity at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the transaction, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,641 shares of company stock valued at $1,435,936. Company insiders own 1.45% of the company’s stock.

Associated Banc Price Performance

NYSE ASB opened at $26.72 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a 1 year low of $17.30 and a 1 year high of $28.18. The company 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 stock’s 50-day moving average price is $23.72 and its two-hundred day moving average price is $22.23.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The business had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, analysts predict that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

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

About Associated Banc

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.