Algert Global LLC Purchases 13,680 Shares of Associated Banc-Corp (NYSE:ASB)

Algert Global LLC boosted its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,393 shares of the bank's stock after buying an additional 13,680 shares during the quarter. Algert Global LLC's holdings in Associated Banc were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhino Investment Partners Inc boosted its stake in Associated Banc by 11.0% during the fourth quarter. Rhino Investment Partners Inc now owns 869,591 shares of the bank's stock worth $20,783,000 after acquiring an additional 86,000 shares in the last quarter. Comerica Bank raised its holdings in Associated Banc by 3.1% in the 4th quarter. Comerica Bank now owns 47,607 shares of the bank's stock worth $1,138,000 after purchasing an additional 1,415 shares during the period. Soros Fund Management LLC purchased a new position in shares of Associated Banc during the 4th quarter valued at about $9,560,000. Northern Trust Corp raised its holdings in Associated Banc by 19.9% during the fourth quarter. Northern Trust Corp now owns 2,182,882 shares of the bank's stock valued at $52,171,000 after acquiring an additional 362,267 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Associated Banc by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 173,712 shares of the bank's stock valued at $4,152,000 after acquiring an additional 4,764 shares during the last quarter. Institutional investors own 82.98% of the company's stock.

Associated Banc Price Performance

Shares of Associated Banc stock traded down $0.19 during trading on Thursday, hitting $24.19. The stock had a trading volume of 247,309 shares, compared to its average volume of 1,533,478. The business has a fifty day moving average of $21.68 and a two-hundred day moving average of $23.92. The firm has a market cap of $4.01 billion, a P/E ratio of 30.62, a PEG ratio of 1.52 and a beta of 0.79. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. The business had revenue of $348.97 million during the quarter, compared to analysts' expectations of $347.86 million. During the same quarter last year, the firm posted $0.52 earnings per share. Associated Banc's revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, June 2nd. Associated Banc's payout ratio is presently 106.98%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASB. Wells Fargo & Company raised Associated Banc from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $27.00 to $26.00 in a research report on Wednesday, April 9th. Barclays lowered their target price on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada lifted their price objective on Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, January 24th. Raymond James restated an "outperform" rating and issued a $27.00 price objective on shares of Associated Banc in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $26.00.

Insider Activity

In other news, CEO Andrew J. Harmening bought 12,910 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of $23.25 per share, with a total value of $300,157.50. Following the transaction, the chief executive officer now owns 319,269 shares in the company, valued at $7,423,004.25. This represents a 4.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now owns 66,915 shares of the company's stock, valued at $1,678,897.35. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company's stock.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.