UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Associated Banc-Corp (NYSE:ASB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 435,634 shares of the bank's stock after acquiring an additional 107,328 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.29% of Associated Banc worth $10,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Associated Banc during the 4th quarter worth about $36,144,000. Vanguard Group Inc. raised its position in Associated Banc by 8.7% in the 4th quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock worth $431,798,000 after purchasing an additional 1,444,068 shares during the period. Proficio Capital Partners LLC bought a new stake in Associated Banc in the fourth quarter worth about $353,000. FMR LLC boosted its position in shares of Associated Banc by 9.4% during the fourth quarter. FMR LLC now owns 14,838,422 shares of the bank's stock valued at $354,638,000 after buying an additional 1,272,441 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Associated Banc by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock valued at $53,738,000 after buying an additional 111,310 shares during the period. Institutional investors own 82.98% of the company's stock.

Insider Activity at Associated Banc

In related news, CEO Andrew J. Harmening bought 12,910 shares of the business's stock in a transaction on Friday, May 9th. The shares were bought at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the purchase, the chief executive officer now directly owns 319,269 shares of the company's stock, valued at approximately $7,423,004.25. This trade represents a 4.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ASB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their price target on Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. Stephens cut their price objective on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $27.00 to $26.00 in a research note on Wednesday, April 9th. Raymond James reiterated an "outperform" rating and set a $27.00 target price on shares of Associated Banc in a research report on Monday, April 28th. Finally, Barclays cut their price target on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.00.

Associated Banc Stock Up 1.7%

Shares of ASB traded up $0.39 during midday trading on Tuesday, reaching $23.40. 438,943 shares of the stock were exchanged, compared to its average volume of 1,540,147. The company has a market capitalization of $3.88 billion, a P/E ratio of 29.62, a PEG ratio of 1.52 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The company's 50 day moving average is $21.99 and its two-hundred day moving average is $23.70.

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

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Monday, June 2nd. Associated Banc's payout ratio is 106.98%.

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.