Universal Beteiligungs und Servicegesellschaft mbH Invests $7.83 Million in Associated Banc-Corp (NYSE:ASB)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 327,659 shares of the bank's stock, valued at approximately $7,831,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.20% of Associated Banc as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of ASB. Hancock Whitney Corp raised its holdings in Associated Banc by 0.7% in the fourth quarter. Hancock Whitney Corp now owns 58,001 shares of the bank's stock worth $1,386,000 after purchasing an additional 401 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Associated Banc by 13.1% during the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock worth $84,000 after acquiring an additional 408 shares in the last quarter. US Bancorp DE lifted its position in Associated Banc by 0.6% during the fourth quarter. US Bancorp DE now owns 80,294 shares of the bank's stock valued at $1,919,000 after acquiring an additional 494 shares during the last quarter. Mariner LLC boosted its stake in Associated Banc by 3.3% in the fourth quarter. Mariner LLC now owns 17,882 shares of the bank's stock valued at $427,000 after acquiring an additional 566 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Associated Banc by 18.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,592 shares of the bank's stock valued at $86,000 after acquiring an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Associated Banc Stock Performance

Shares of NYSE:ASB traded down $0.19 during trading on Wednesday, hitting $23.14. 871,709 shares of the stock traded hands, compared to its average volume of 1,544,648. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $22.02 and a two-hundred day moving average price of $23.70. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.18. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.52 and a beta of 0.79.

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

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. Associated Banc's dividend payout ratio is currently 106.98%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Andrew J. Harmening bought 12,910 shares of the business's stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $23.25 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.45% of the stock is currently owned by company insiders.

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.