Associated Banc Corp (ASB) Position Reduced by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. trimmed its holdings in shares of Associated Banc Corp (NYSE:ASB) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 145,566 shares of the bank’s stock after selling 8,712 shares during the period. UBS Asset Management Americas Inc.’s holdings in Associated Banc were worth $3,697,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the stock. Landaas & Co. WI ADV grew its position in Associated Banc by 98.8% during the fourth quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after buying an additional 2,091 shares in the last quarter. Pacer Advisors Inc. grew its position in Associated Banc by 11.6% during the third quarter. Pacer Advisors Inc. now owns 20,892 shares of the bank’s stock worth $507,000 after buying an additional 2,175 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Associated Banc by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,773 shares of the bank’s stock worth $223,000 after buying an additional 2,842 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Associated Banc by 4.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 106,673 shares of the bank’s stock worth $2,587,000 after buying an additional 4,327 shares in the last quarter. Finally, Swiss National Bank grew its position in Associated Banc by 1.9% during the fourth quarter. Swiss National Bank now owns 257,800 shares of the bank’s stock worth $6,548,000 after buying an additional 4,900 shares in the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.
Several research firms recently commented on ASB. ValuEngine upgraded Associated Banc from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley reduced their target price on Associated Banc from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 31st. Barclays reiterated a “hold” rating and issued a $28.00 price objective on shares of Associated Banc in a report on Tuesday, January 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $26.00 price objective on shares of Associated Banc in a report on Sunday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.30.
Associated Banc Corp (NYSE:ASB) opened at $26.70 on Wednesday. Associated Banc Corp has a fifty-two week low of $20.95 and a fifty-two week high of $27.20. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $4,080.41, a PE ratio of 17.58, a PEG ratio of 2.17 and a beta of 1.03.
Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). Associated Banc had a return on equity of 8.05% and a net margin of 18.80%. The firm had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $281.38 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. Associated Banc’s revenue for the quarter was up 5.8% compared to the same quarter last year. research analysts anticipate that Associated Banc Corp will post 1.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.15 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Wednesday, February 28th. Associated Banc’s dividend payout ratio is presently 41.96%.
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Associated Banc 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.
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