Associated Banc Corp (ASB) Stake Decreased by Brandywine Global Investment Management LLC
Brandywine Global Investment Management LLC lessened its stake in shares of Associated Banc Corp (NYSE:ASB) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,678 shares of the bank’s stock after selling 629 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.24% of Associated Banc worth $7,772,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Baird Financial Group Inc. raised its position in Associated Banc by 18.8% in the 3rd quarter. Baird Financial Group Inc. now owns 14,511 shares of the bank’s stock valued at $374,000 after purchasing an additional 2,301 shares during the last quarter. Swiss National Bank raised its position in Associated Banc by 0.8% in the 3rd quarter. Swiss National Bank now owns 297,940 shares of the bank’s stock valued at $7,746,000 after purchasing an additional 2,300 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Associated Banc in the 4th quarter valued at $303,000. Vanguard Group Inc. raised its position in Associated Banc by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 15,465,462 shares of the bank’s stock valued at $402,102,000 after purchasing an additional 304,733 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Associated Banc by 106.6% in the 3rd quarter. GSA Capital Partners LLP now owns 41,160 shares of the bank’s stock valued at $1,070,000 after purchasing an additional 21,238 shares during the last quarter. Institutional investors and hedge funds own 75.36% of the company’s stock.
ASB has been the subject of several research reports. Raymond James downgraded shares of Associated Banc from a “mkt perform” rating to an “underperform” rating in a research report on Monday, January 7th. Bank of America downgraded shares of Associated Banc from a “neutral” rating to an “underperform” rating and set a $21.00 price target for the company. in a research report on Thursday, January 10th. Jefferies Financial Group upgraded shares of Associated Banc from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, January 8th. Royal Bank of Canada reduced their price target on shares of Associated Banc to $24.00 and set a “sector perform” rating for the company in a research report on Friday, January 25th. Finally, Barclays reiterated a “hold” rating and issued a $25.00 price target on shares of Associated Banc in a research report on Friday, January 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.60.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 24th. The bank reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $311.13 million. Associated Banc had a net margin of 22.09% and a return on equity of 9.79%. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Associated Banc Corp will post 2.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.17 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 3.12%. Associated Banc’s payout ratio is currently 33.50%.
In other Associated Banc news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the completion of the transaction, the chief executive officer now owns 104,684 shares in the company, valued at approximately $2,303,048. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Moral-Niles Christopher Del sold 9,881 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $23.17, for a total transaction of $228,942.77. Following the transaction, the chief financial officer now owns 69,682 shares of the company’s stock, valued at approximately $1,614,531.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,894 shares of company stock valued at $1,284,380. 2.13% of the stock is owned by insiders.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
See Also: Earnings Per Share (EPS)
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