Fisher Asset Management LLC Increases Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Fisher Asset Management LLC boosted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 14.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 509,000 shares of the bank’s stock after buying an additional 65,000 shares during the period. Fisher Asset Management LLC’s holdings in Associated Banc were worth $10,964,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of Associated Banc by 291.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock worth $33,063,000 after acquiring an additional 1,163,807 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Associated Banc by 12.0% during the second quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock valued at $24,309,000 after buying an additional 123,271 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Associated Banc by 221.6% during the third 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 period. Interval Partners LP grew its stake in shares of Associated Banc by 27.6% during the second 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, RIA Advisory Group LLC bought a new stake in shares of Associated Banc during the 3rd quarter worth approximately $1,935,000. 82.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on ASB shares. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, 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 research note on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.89.

Insider Activity

In related news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction dated 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 $1,108,254.72. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, 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 three months, insiders have sold 56,641 shares of company stock worth $1,435,936. 1.45% of the stock is currently owned by company insiders.

Associated Banc Stock Down 1.1 %

NYSE:ASB opened at $26.72 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $4.04 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.96 and a beta of 0.91. The company has a 50-day moving average of $23.62 and a 200 day moving average of $22.20. Associated Banc-Corp has a 1-year low of $17.30 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The firm had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, research analysts anticipate that Associated Banc-Corp will post 2.13 EPS for the current fiscal year.

Associated Banc Increases Dividend

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

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.