Associated Banc-Corp (ASB) Holdings Reduced by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans trimmed its position in shares of Associated Banc-Corp (NYSE:ASB) by 66.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,743 shares of the bank’s stock after selling 62,050 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Associated Banc-Corp were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wedge Capital Management L L P NC boosted its stake in Associated Banc-Corp by 0.5% during the second quarter. Wedge Capital Management L L P NC now owns 27,159 shares of the bank’s stock worth $684,000 after buying an additional 123 shares during the period. World Asset Management Inc boosted its stake in Associated Banc-Corp by 2.5% during the second quarter. World Asset Management Inc now owns 9,629 shares of the bank’s stock worth $243,000 after buying an additional 236 shares during the period. Alpha Windward LLC boosted its stake in Associated Banc-Corp by 1.6% during 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. Teacher Retirement System of Texas boosted its stake in Associated Banc-Corp by 3.3% during the second quarter. Teacher Retirement System of Texas now owns 12,169 shares of the bank’s stock worth $307,000 after buying an additional 384 shares during the period. Finally, Utah Retirement Systems boosted its stake in Associated Banc-Corp by 1.8% during the second quarter. Utah Retirement Systems now owns 27,628 shares of the bank’s stock worth $696,000 after buying an additional 500 shares during the period. 77.47% of the stock is owned by institutional investors.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 24.70 on Wednesday. Associated Banc-Corp has a 52 week low of $18.85 and a 52 week high of $26.70. The stock’s 50 day moving average is $22.98 and its 200-day moving average is $23.97. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 17.77 and a beta of 1.20.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same period last year, the company earned $0.31 EPS. On average, analysts anticipate that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 30th. Associated Banc-Corp’s payout ratio is 34.53%.
In related news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $23.61, for a total transaction of $236,100.00. Following the completion of the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at approximately $3,012,281.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $23.57, for a total value of $106,065.00. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $636,484.28. The disclosure for this sale can be found here. Insiders have sold a total of 38,772 shares of company stock valued at $914,334 over the last three months. Corporate insiders own 1.80% of the company’s stock.
Several research firms have commented on ASB. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Associated Banc-Corp in a research note on Friday, September 22nd. BidaskClub lowered shares of Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research note on Friday, July 7th. Piper Jaffray Companies set a $25.00 price objective on shares of Associated Banc-Corp and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.00.
Associated Banc-Corp 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.
Receive News & Stock Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related stocks with our FREE daily email newsletter.