Soros Fund Management LLC Invests $9.56 Million in Associated Banc-Corp (NYSE:ASB)

Soros Fund Management LLC bought a new position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 400,000 shares of the bank's stock, valued at approximately $9,560,000. Soros Fund Management LLC owned 0.26% of Associated Banc as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Quarry LP lifted its stake in shares of Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after purchasing an additional 651 shares during the last quarter. Covestor Ltd lifted its stake in shares of Associated Banc by 221.0% during the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock worth $36,000 after purchasing an additional 1,032 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after purchasing an additional 579 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of Associated Banc during the 4th quarter worth $56,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Associated Banc during the 4th quarter worth $64,000. Institutional investors own 82.98% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ASB. Stephens decreased 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. Keefe, Bruyette & Woods decreased their price target on Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a research note on Friday. Royal Bank of Canada increased their price target 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 reiterated an "outperform" rating and issued a $27.00 price target on shares of Associated Banc in a research note on Monday. Finally, Wells Fargo & Company raised Associated Banc from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $27.00 to $26.00 in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Associated Banc presently has an average rating of "Hold" and a consensus price target of $26.00.

Insider Buying and Selling at Associated Banc

In other news, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction that occurred 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 $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Williams sold 2,830 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the transaction, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

Associated Banc Stock Up 0.6 %

Associated Banc stock opened at $22.47 on Tuesday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.78. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The business's 50-day moving average price is $21.89 and its 200 day moving average price is $23.89. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB - Get Free Report) last posted 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. The firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $347.86 million. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Associated Banc's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc 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.

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