Associated Banc Corp (ASB) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado lessened its position in shares of Associated Banc Corp (NYSE:ASB) by 15.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,819 shares of the bank’s stock after selling 5,989 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Associated Banc were worth $679,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASB. Fort L.P. purchased a new position in shares of Associated Banc in the 4th quarter worth approximately $25,000. Pearl River Capital LLC purchased a new position in shares of Associated Banc in the 4th quarter worth approximately $43,000. Toronto Dominion Bank purchased a new position in shares of Associated Banc in the 4th quarter worth approximately $70,000. Cerebellum GP LLC purchased a new position in shares of Associated Banc in the 4th quarter worth approximately $107,000. Finally, CWM LLC boosted its holdings in shares of Associated Banc by 19,418.2% in the 4th quarter. CWM LLC now owns 8,588 shares of the bank’s stock worth $170,000 after purchasing an additional 8,544 shares during the period. Institutional investors and hedge funds own 75.59% of the company’s stock.
In related news, insider David L. Stein sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $22.36, for a total transaction of $134,160.00. Following the completion of the sale, the insider now directly owns 58,533 shares of the company’s stock, valued at approximately $1,308,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $22.89, for a total value of $228,900.00. Following the sale, the chief executive officer now directly owns 218,996 shares of the company’s stock, valued at $5,012,818.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,441 shares of company stock valued at $997,186 over the last three months. 2.69% of the stock is owned by corporate insiders.
Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. Associated Banc had a return on equity of 9.87% and a net margin of 22.56%. The firm had revenue of $306.75 million during the quarter, compared to analyst estimates of $312.90 million. During the same period last year, the company earned $0.40 EPS. Research analysts expect that Associated Banc Corp will post 2.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, May 31st. Associated Banc’s dividend payout ratio is currently 33.50%.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Associated Banc from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, April 2nd. Royal Bank of Canada dropped their target price on Associated Banc to $24.00 and set a “sector perform” rating for the company in a report on Friday, January 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Associated Banc currently has an average rating of “Hold” and a consensus price target of $24.89.
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Associated Banc Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses 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.
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