Jupiter Asset Management Ltd. Has $8.59 Million Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Jupiter Asset Management Ltd. decreased its position in Associated Banc-Corp (NYSE:ASB) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,487 shares of the bank’s stock after selling 58,528 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Associated Banc were worth $8,589,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ASB. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Associated Banc by 15.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,562 shares of the bank’s stock valued at $334,000 after purchasing an additional 2,611 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $296,000. Victory Capital Management Inc. raised its position in shares of Associated Banc by 19.7% in the fourth quarter. Victory Capital Management Inc. now owns 558,939 shares of the bank’s stock valued at $9,530,000 after purchasing an additional 91,795 shares during the period. First Trust Advisors LP raised its position in shares of Associated Banc by 28.9% in the fourth quarter. First Trust Advisors LP now owns 978,466 shares of the bank’s stock valued at $16,683,000 after purchasing an additional 219,630 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Associated Banc by 22.9% in the fourth quarter. California Public Employees Retirement System now owns 450,255 shares of the bank’s stock valued at $7,677,000 after purchasing an additional 83,784 shares during the period. 75.19% of the stock is currently owned by institutional investors.

Shares of NYSE:ASB opened at $22.14 on Friday. Associated Banc-Corp has a 52 week low of $11.78 and a 52 week high of $23.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a fifty day moving average price of $22.33. The firm has a market cap of $3.38 billion, a P/E ratio of 10.16, a PEG ratio of 1.68 and a beta of 1.24.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Wednesday, April 21st. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.13. The business had revenue of $271.00 million for the quarter, compared to the consensus estimate of $263.58 million. Associated Banc had a net margin of 26.17% and a return on equity of 6.67%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 1.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $0.72 annualized dividend and a yield of 3.25%. Associated Banc’s dividend payout ratio is currently 38.71%.

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Associated Banc from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, June 3rd. Zacks Investment Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Tuesday, March 9th. TheStreet raised shares of Associated Banc from a “c+” rating to a “b” rating in a research report on Monday, February 22nd. Wells Fargo & Company lowered shares of Associated Banc from an “overweight” rating to an “equal weight” rating and set a $24.00 target price on the stock. in a research report on Friday, June 4th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Associated Banc in a research report on Sunday, April 25th. Eight equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $20.00.

In other news, EVP Michael Meinolf sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $21.64, for a total value of $64,920.00. Following the completion of the sale, the executive vice president now directly owns 28,750 shares of the company’s stock, valued at approximately $622,150. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew J. Harmening sold 51,352 shares of the company’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $22.90, for a total value of $1,175,960.80. Following the completion of the sale, the chief executive officer now directly owns 275,817 shares of the company’s stock, valued at $6,316,209.30. The disclosure for this sale can be found here. Insiders have sold a total of 67,656 shares of company stock valued at $1,548,362 over the last three months. Company insiders own 3.25% 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 operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.

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Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

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