Oakbrook Investments LLC lessened its position in shares of Associated Banc Corp (NYSE:ASB) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,950 shares of the bank’s stock after selling 800 shares during the quarter. Oakbrook Investments LLC’s holdings in Associated Banc were worth $358,000 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 the business. Actinver Wealth Management Inc. purchased a new position in shares of Associated Banc in the 4th quarter worth approximately $244,000. Cerebellum GP LLC boosted its holdings in Associated Banc by 158.9% during the 1st quarter. Cerebellum GP LLC now owns 13,983 shares of the bank’s stock valued at $299,000 after acquiring an additional 8,582 shares during the period. Two Sigma Investments LP purchased a new position in Associated Banc during the 4th quarter valued at $1,152,000. Acadian Asset Management LLC purchased a new position in Associated Banc during the 1st quarter valued at $8,537,000. Finally, NumerixS Investment Technologies Inc boosted its holdings in Associated Banc by 192.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 20,200 shares of the bank’s stock valued at $430,000 after acquiring an additional 13,300 shares during the period. Institutional investors and hedge funds own 73.26% of the company’s stock.
ASB has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded IMI PLC/S from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Royal Bank of Canada set a $179.00 price objective on 3M and gave the company a “hold” rating in a report on Friday. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.78.ASB opened at $21.38 on Tuesday. Associated Banc Corp has a 52 week low of $18.53 and a 52 week high of $27.95. The stock’s fifty day moving average price is $20.97. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.91 and a current ratio of 0.92.
Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. The business had revenue of $309.46 million during the quarter, compared to analyst estimates of $315.84 million. During the same period last year, the business posted $0.53 earnings per share. Research analysts expect that Associated Banc Corp will post 1.98 earnings per share for the current year.
In other news, insider David L. Stein sold 5,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $23.12, for a total value of $115,600.00. Following the sale, the insider now directly owns 49,685 shares in the company, valued at $1,148,717.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lith Karen Van sold 5,060 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $23.05, for a total value of $116,633.00. Following the completion of the sale, the director now owns 45,991 shares in the company, valued at $1,060,092.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,060 shares of company stock valued at $461,133. Company insiders own 2.69% of the company’s stock.
About Associated Banc
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.
Further Reading: Earnings Per Share
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