Mutual of America Capital Management LLC Trims Holdings in Associated Banc-Corp (NYSE:ASB)

Mutual of America Capital Management LLC reduced its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,624 shares of the bank’s stock after selling 3,251 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Associated Banc worth $1,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AlphaMark Advisors LLC boosted its stake in shares of Associated Banc by 3.6% during the 4th quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock valued at $307,000 after buying an additional 494 shares during the last quarter. KLCM Advisors Inc. raised its position in shares of Associated Banc by 1.4% during the 4th quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank’s stock valued at $964,000 after acquiring an additional 611 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Associated Banc by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after acquiring an additional 651 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Associated Banc by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock valued at $785,000 after acquiring an additional 800 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its position in shares of Associated Banc by 7.5% during the 4th quarter. N.E.W. Advisory Services LLC now owns 11,963 shares of the bank’s stock valued at $256,000 after acquiring an additional 835 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $22.18, for a total transaction of $55,450.00. Following the completion of the sale, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at approximately $2,238,449.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Associated Banc news, EVP Nicole M. Kitowski sold 5,019 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total value of $106,553.37. Following the sale, the executive vice president now owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.18, for a total value of $55,450.00. Following the completion of the sale, the executive vice president now directly owns 100,922 shares in the company, valued at approximately $2,238,449.96. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Barclays dropped their target price on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Stephens reissued an “equal weight” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Friday, April 26th. Finally, Jefferies Financial Group decreased their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Associated Banc has a consensus rating of “Hold” and a consensus price target of $22.78.

Associated Banc Trading Up 0.8 %

NYSE:ASB opened at $21.78 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Associated Banc-Corp has a 1-year low of $15.16 and a 1-year high of $22.77. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The stock has a fifty day simple moving average of $21.04 and a 200 day simple moving average of $20.98.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The business had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same quarter last year, the company posted $0.66 EPS. Associated Banc’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Associated Banc-Corp will post 2.12 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.04%. The ex-dividend date was Monday, June 3rd. Associated Banc’s dividend payout ratio is currently 88.89%.

Associated Banc Company 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.