Bank of New York Mellon Corp boosted its position in Associated Banc-Corp (NYSE:ASB) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,725,459 shares of the bank’s stock after buying an additional 2,412 shares during the period. Bank of New York Mellon Corp owned 2.46% of Associated Banc-Corp worth $93,881,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ASB. Victory Capital Management Inc. boosted 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 worth $126,315,000 after buying an additional 228,539 shares during the period. Alpha Windward LLC boosted its stake in Associated Banc-Corp by 1.6% in the second quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock worth $467,000 after buying an additional 300 shares during the period. Retirement Systems of Alabama boosted its stake in Associated Banc-Corp by 2.5% in the first quarter. Retirement Systems of Alabama now owns 195,982 shares of the bank’s stock worth $4,782,000 after buying an additional 4,768 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Associated Banc-Corp by 9.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 767,468 shares of the bank’s stock worth $18,727,000 after buying an additional 65,509 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Associated Banc-Corp by 49.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 33,592 shares of the bank’s stock worth $819,000 after buying an additional 11,086 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc-Corp (ASB) opened at 22.20 on Friday. Associated Banc-Corp has a 12 month low of $18.85 and a 12 month high of $26.70. The company has a 50-day moving average of $23.48 and a 200-day moving average of $24.48. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 15.97 and a beta of 1.16.

Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The business had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. During the same period in the prior year, the company earned $0.31 EPS. Analysts predict that Associated Banc-Corp will post $1.43 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.48 annualized dividend and a yield of 2.16%. Associated Banc-Corp’s dividend payout ratio is presently 34.53%.

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A number of analysts recently weighed in on ASB shares. Zacks Investment Research cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Associated Banc-Corp in a report on Friday, July 14th. Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Associated Banc-Corp in a report on Friday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Associated Banc-Corp in a report on Friday, July 7th. Finally, Piper Jaffray Companies set a $25.00 price objective on shares of Associated Banc-Corp and gave the stock a “hold” rating in a report on Saturday, July 22nd. Two research analysts have 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 presently has a consensus rating of “Hold” and a consensus target price of $25.00.

In other Associated Banc-Corp news, insider Christopher C. Piotrowski sold 16,218 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the transaction, the insider now directly owns 30,479 shares in the company, valued at $717,780.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John A. Utz sold 8,054 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $23.62, for a total value of $190,235.48. Following the completion of the transaction, the insider now owns 44,405 shares of the company’s stock, valued at $1,048,846.10. The disclosure for this sale can be found here. Insiders sold 38,772 shares of company stock valued at $914,334 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Associated Banc-Corp Company Profile

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.

Institutional Ownership by Quarter for Associated Banc-Corp (NYSE:ASB)

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