Intech Investment Management LLC Has $920,000 Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Intech Investment Management LLC raised its holdings in Associated Banc-Corp (NYSE:ASB) by 117.6% in the third quarter, Holdings Channel.com reports. The fund owned 42,697 shares of the bank’s stock after acquiring an additional 23,076 shares during the quarter. Intech Investment Management LLC’s holdings in Associated Banc were worth $920,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in Associated Banc in the second quarter valued at approximately $38,000. Farther Finance Advisors LLC lifted its stake in Associated Banc by 82.1% in the third 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 last quarter. Neo Ivy Capital Management acquired a new stake in Associated Banc in the second quarter valued at approximately $93,000. nVerses Capital LLC acquired a new stake in Associated Banc in the second quarter valued at approximately $140,000. Finally, CWM LLC lifted its stake in Associated Banc by 30.6% in the second quarter. CWM LLC now owns 7,084 shares of the bank’s stock valued at $150,000 after acquiring an additional 1,661 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares of the company’s stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,641 shares of company stock valued at $1,435,936 in the last 90 days. 1.45% of the stock is currently owned by company insiders.

Associated Banc Trading Down 1.1 %

Shares of ASB stock opened at $26.72 on Friday. Associated Banc-Corp has a 1 year low of $17.30 and a 1 year high of $28.18. The firm’s fifty day simple moving average is $23.72 and its 200 day simple moving average is $22.23. The firm has a market capitalization of $4.04 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.91. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The business had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, sell-side analysts predict that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.44%. The ex-dividend date is Monday, December 2nd. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s payout ratio is 73.33%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ASB. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price target on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.89.

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.