Interval Partners LP Acquires 131,099 Shares of Associated Banc-Corp (NYSE:ASB)

Interval Partners LP grew its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 25.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,953 shares of the bank's stock after acquiring an additional 131,099 shares during the period. Interval Partners LP owned 0.42% of Associated Banc worth $15,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crestline Management LP raised its stake in shares of Associated Banc by 162.1% during the 4th quarter. Crestline Management LP now owns 75,013 shares of the bank's stock worth $1,793,000 after purchasing an additional 46,396 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Associated Banc in the 4th quarter valued at about $221,000. Azora Capital LP acquired a new position in shares of Associated Banc during the 4th quarter worth about $852,000. Balyasny Asset Management L.P. increased its stake in shares of Associated Banc by 263.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,597,950 shares of the bank's stock worth $38,191,000 after purchasing an additional 1,158,576 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of Associated Banc by 22.2% in the 4th quarter. Algert Global LLC now owns 75,393 shares of the bank's stock valued at $1,802,000 after purchasing an additional 13,680 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

Insider Activity

In related news, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew J. Harmening purchased 12,910 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average cost of $23.25 per share, with a total value of $300,157.50. Following the purchase, the chief executive officer now owns 319,269 shares of the company's stock, valued at $7,423,004.25. This represents a 4.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.45% of the stock is owned by company insiders.

Associated Banc Stock Performance

ASB stock traded down $0.06 during trading hours on Friday, hitting $24.27. 899,579 shares of the stock were exchanged, compared to its average volume of 1,537,548. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.02 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.52 and a beta of 0.79. The company has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $23.92.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.59 EPS 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 for the quarter, compared to analyst estimates of $347.86 million. During the same period last year, the firm earned $0.52 earnings per share. Associated Banc's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.79%. Associated Banc's dividend payout ratio is presently 106.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird lowered their price target on Associated Banc from $28.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, January 24th. StockNews.com lowered Associated Banc from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Stephens cut their price target on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Royal Bank of Canada lifted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. Finally, Raymond James reissued an "outperform" rating and issued a $27.00 price objective on shares of Associated Banc in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $26.00.

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.