KLCM Advisors Inc. Lowers Position in Associated Banc-Corp (NYSE:ASB)

KLCM Advisors Inc. lessened its position in Associated Banc-Corp (NYSE:ASB) by 11.9% during the fourth quarter, Holdings Channel reports. The fund owned 40,360 shares of the bank’s stock after selling 5,432 shares during the period. KLCM Advisors Inc.’s holdings in Associated Banc were worth $965,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in Associated Banc by 221.6% in the third quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock valued at $3,511,000 after acquiring an additional 112,323 shares during the last quarter. State Street Corp increased its stake in Associated Banc by 3.3% in the third quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock valued at $177,282,000 after acquiring an additional 261,877 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Associated Banc by 11,595.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank’s stock valued at $1,825,000 after acquiring an additional 75,717 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Associated Banc by 315.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock valued at $12,907,000 after acquiring an additional 410,118 shares during the last quarter. Finally, Crescent Grove Advisors LLC increased its stake in Associated Banc by 15.4% in the fourth quarter. Crescent Grove Advisors LLC now owns 101,591 shares of the bank’s stock valued at $2,428,000 after acquiring an additional 13,521 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Up 0.2 %

NYSE ASB opened at $25.08 on Monday. 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 has a market capitalization of $3.79 billion, a PE ratio of 31.74, a PEG ratio of 1.61 and a beta of 0.94. Associated Banc-Corp has a 1 year low of $19.76 and a 1 year high of $28.18. The business’s 50-day moving average is $24.76 and its 200 day moving average is $23.65.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (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%. Sell-side analysts forecast that Associated Banc-Corp will post 2.41 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 3.67%. Associated Banc’s dividend payout ratio (DPR) is presently 116.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ASB. Wells Fargo & Company increased their target price on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Associated Banc in a research note on Friday, January 24th. Royal Bank of Canada raised their price objective 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. Barclays raised their price objective on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird reduced their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.00.

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.