Rhumbline Advisers Raises Stock Position in Associated Banc-Corp (NYSE:ASB)

Rhumbline Advisers boosted its position in shares of Associated Banc-Corp (NYSE:ASB) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,766 shares of the bank’s stock after purchasing an additional 34,919 shares during the period. Rhumbline Advisers owned approximately 0.36% of Associated Banc worth $12,900,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc in the 3rd quarter valued at approximately $39,000. Crews Bank & Trust purchased a new stake in shares of Associated Banc in the 4th quarter valued at approximately $56,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Associated Banc in the 4th quarter valued at approximately $64,000. R Squared Ltd purchased a new stake in shares of Associated Banc in the 4th quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after acquiring an additional 1,438 shares during the period. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Down 2.9 %

Shares of Associated Banc stock opened at $24.37 on Friday. Associated Banc-Corp has a one year low of $19.76 and a one year high of $28.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The stock’s 50-day moving average is $24.67 and its 200 day moving average is $23.77. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.56 and a beta of 0.94.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Equities research analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 3.78%. Associated Banc’s dividend payout ratio is 116.46%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ASB shares. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Robert W. Baird dropped their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Royal Bank of Canada lifted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Finally, Barclays upped their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Insider Transactions at Associated Banc

In related news, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now directly owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.45% of the company’s stock.

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.