O Shaughnessy Asset Management LLC Has $2.24 Million Holdings in Associated Banc-Corp (NYSE:ASB)

O Shaughnessy Asset Management LLC boosted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,008 shares of the bank’s stock after buying an additional 6,149 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Associated Banc were worth $2,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ASB. Steph & Co. raised its holdings in Associated Banc by 470.2% during the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares during the period. Creekmur Asset Management LLC acquired a new stake in Associated Banc during the 4th quarter worth about $28,000. Parallel Advisors LLC raised its holdings in Associated Banc by 64.0% during the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after buying an additional 894 shares during the period. Quadrant Capital Group LLC raised its holdings in Associated Banc by 183.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after buying an additional 1,850 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Associated Banc in the 1st quarter valued at about $74,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Down 2.2 %

Shares of Associated Banc stock opened at $23.15 on Thursday. Associated Banc-Corp has a 12-month low of $15.16 and a 12-month high of $23.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.49 billion, a P/E ratio of 23.38, a PEG ratio of 2.26 and a beta of 0.95. The stock has a 50 day moving average price of $21.18 and a two-hundred day moving average price of $21.08.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The company had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $325.00 million. During the same period in the prior year, the business earned $0.66 earnings per share. Associated Banc’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts expect that Associated Banc-Corp will post 2.12 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.88 annualized dividend and a dividend yield of 3.80%. Associated Banc’s dividend payout ratio is 88.89%.

Analysts Set New Price Targets

ASB has been the topic of a number of research reports. Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company upped their target price on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. Robert W. Baird downgraded Associated Banc from an “outperform” rating to a “neutral” rating and set a $27.00 target price on the stock. in a report on Wednesday, July 17th. Finally, Stephens reiterated an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Associated Banc currently has an average rating of “Hold” and a consensus price target of $23.11.

Insider Activity

In other news, EVP Nicole M. Kitowski sold 5,019 shares of the 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 completion of the sale, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at $806,591.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Nicole M. Kitowski sold 5,019 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 37,993 shares in the company, valued at $806,591.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John A. Utz sold 2,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

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.