Alpha Windward LLC raised its stake in shares of Associated Banc-Corp (NYSE:ASB) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,540 shares of the bank’s stock after buying an additional 300 shares during the period. Alpha Windward LLC’s holdings in Associated Banc-Corp were worth $467,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in Associated Banc-Corp by 43.0% in the first quarter. Bank of New York Mellon Corp now owns 3,723,047 shares of the bank’s stock valued at $90,843,000 after buying an additional 1,118,865 shares during the period. Vanguard Group Inc. increased its stake in Associated Banc-Corp by 6.0% in the first quarter. Vanguard Group Inc. now owns 12,490,743 shares of the bank’s stock valued at $304,775,000 after buying an additional 707,633 shares during the period. State Street Corp increased its stake in Associated Banc-Corp by 10.4% in the first quarter. State Street Corp now owns 6,785,200 shares of the bank’s stock valued at $165,559,000 after buying an additional 641,800 shares during the period. First Quadrant L P CA increased its stake in Associated Banc-Corp by 145.1% in the first quarter. First Quadrant L P CA now owns 423,571 shares of the bank’s stock valued at $10,335,000 after buying an additional 250,790 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Associated Banc-Corp by 4.6% in the first quarter. Victory Capital Management Inc. now owns 5,176,832 shares of the bank’s stock valued at $126,315,000 after buying an additional 228,539 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Associated Banc-Corp (NYSE ASB) traded up 0.41% during midday trading on Thursday, hitting $24.70. 118,348 shares of the stock were exchanged. The firm’s 50 day moving average price is $24.84 and its 200-day moving average price is $24.87. The stock has a market cap of $3.74 billion, a P/E ratio of 18.43 and a beta of 1.17. Associated Banc-Corp has a 52-week low of $17.77 and a 52-week high of $26.70.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 20th. The bank reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Associated Banc-Corp had a return on equity of 7.20% and a net margin of 18.36%. The company had revenue of $260.11 million for the quarter, compared to analysts’ expectations of $266.24 million. During the same period in the previous year, the firm earned $0.27 EPS. On average, equities research analysts expect that Associated Banc-Corp will post $1.45 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on ASB shares. Zacks Investment Research downgraded shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $24.00 price target on shares of Associated Banc-Corp in a report on Thursday, March 23rd. SunTrust Banks, Inc. raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Jefferies Group LLC reissued a “hold” rating and issued a $27.00 price target on shares of Associated Banc-Corp in a report on Tuesday, April 4th. Finally, BidaskClub raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Associated Banc-Corp currently has a consensus rating of “Hold” and a consensus target price of $24.86.
In related news, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $24.81, for a total value of $248,100.00. Following the transaction, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at approximately $3,165,383.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Yee sold 2,330 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $25.46, for a total value of $59,321.80. Following the completion of the transaction, the insider now directly owns 69,852 shares in the company, valued at $1,778,431.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,330 shares of company stock worth $508,302. 1.80% of the stock is owned by insiders.
About Associated Banc-Corp
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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