Point72 Asia Singapore Pte. Ltd. Has $149,000 Position in Associated Banc-Corp (NYSE:ASB)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in Associated Banc-Corp (NYSE:ASB) by 50.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,930 shares of the bank’s stock after selling 7,092 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Associated Banc were worth $149,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in Associated Banc by 221.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock valued at $3,511,000 after buying an additional 112,323 shares during the last quarter. M&G Plc raised its holdings in Associated Banc by 12.4% in the 2nd quarter. M&G Plc now owns 411,761 shares of the bank’s stock valued at $8,647,000 after buying an additional 45,542 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Associated Banc by 54.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank’s stock valued at $735,000 after buying an additional 12,296 shares during the last quarter. Interval Partners LP raised its holdings in Associated Banc by 27.6% in the 2nd quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock valued at $9,368,000 after buying an additional 95,928 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Associated Banc by 117.6% in the 3rd quarter. Intech Investment Management LLC now owns 42,697 shares of the bank’s stock valued at $920,000 after buying an additional 23,076 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Performance

NYSE:ASB opened at $26.12 on Thursday. The company has a fifty day moving average of $24.20 and a 200-day moving average of $22.37. The firm has a market capitalization of $3.95 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.90 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a twelve month low of $18.63 and a twelve month high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same quarter last year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.23 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.92 annualized dividend and a yield of 3.52%. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio (DPR) is presently 76.67%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASB. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Barclays raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday. Royal Bank of Canada raised their price target on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on shares of Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.78.

Insider Activity at Associated Banc

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at $1,108,254.72. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,641 shares of company stock valued at $1,435,936. 1.45% of the stock is owned by company insiders.

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.