111 Capital Buys Shares of 33,679 Associated Banc-Corp $ASB

Key Points

• 111 Capital has acquired a new stake in Associated Banc-Corp, purchasing 33,679 shares valued at approximately $821,000 during the second quarter.
• Institutional investors own 82.98% of Associated Banc-Corp's stock, indicating strong interest from hedge funds, with multiple firms increasing their holdings in the bank.
• Associated Banc-Corp recently declared a quarterly dividend of $0.23 per share, reflecting an annualized yield of 3.5% amid a payout ratio of 119.48%.

111 Capital bought a new stake in Associated Banc-Corp (NYSE:ASB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 33,679 shares of the bank's stock, valued at approximately $821,000.

Other hedge funds have also modified their holdings of the company. Quarry LP lifted its holdings in shares of Associated Banc by 77.7% in the 1st quarter. Quarry LP now owns 1,907 shares of the bank's stock valued at $43,000 after buying an additional 834 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Associated Banc by 17.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank's stock valued at $83,000 after buying an additional 559 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock valued at $90,000 after buying an additional 1,122 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Associated Banc by 11.6% in the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock valued at $118,000 after buying an additional 547 shares during the period. Finally, NBC Securities Inc. lifted its holdings in shares of Associated Banc by 111,480.0% in the 1st quarter. NBC Securities Inc. now owns 5,579 shares of the bank's stock valued at $125,000 after buying an additional 5,574 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Associated Banc in a report on Saturday, September 27th. Barclays lifted their price objective on Associated Banc from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, Robert W. Baird lifted their price objective on Associated Banc from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.78.

Associated Banc Stock Performance

Shares of ASB stock opened at $25.96 on Friday. The stock has a fifty day moving average price of $25.67 and a 200 day moving average price of $23.99. The stock has a market cap of $4.30 billion, a PE ratio of 33.71, a P/E/G ratio of 1.00 and a beta of 0.82. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The company had revenue of $366.98 million during the quarter, compared to analysts' expectations of $362.78 million. During the same period in the previous year, the firm posted $0.52 earnings per share. Sell-side analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Associated Banc's payout ratio is 119.48%.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 13,000 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $27.24, for a total value of $354,120.00. Following the completion of the transaction, the executive vice president directly owned 111,228 shares of the company's stock, valued at $3,029,850.72. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew R. Braeger sold 2,000 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares of the company's stock, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,342 shares of company stock valued at $494,360 over the last three months. 1.45% of the stock is currently owned by insiders.

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. 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.

Want to see what other hedge funds are holding ASB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Associated Banc-Corp (NYSE:ASB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.