Dimensional Fund Advisors LP raised its position in Associated Banc-Corp (NYSE:ASB – Get Rating) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,799,945 shares of the bank's stock after acquiring an additional 191,085 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.53% of Associated Banc worth $223,050,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Quent Capital LLC acquired a new position in Associated Banc in the fourth quarter valued at approximately $39,000. Covestor Ltd acquired a new stake in Associated Banc during the 4th quarter worth $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Associated Banc in the first quarter valued at $91,000. PNC Financial Services Group Inc. boosted its stake in Associated Banc by 11.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,451 shares of the bank's stock valued at $192,000 after acquiring an additional 884 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Associated Banc during the first quarter worth about $217,000. 81.06% of the stock is owned by hedge funds and other institutional investors.
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Associated Banc Stock Up 2.1 %
Shares of NYSE:ASB opened at $20.48 on Friday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.13 and a beta of 1.04. Associated Banc-Corp has a fifty-two week low of $17.45 and a fifty-two week high of $25.78. The firm's 50-day simple moving average is $19.93 and its 200-day simple moving average is $20.81. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.93.
Associated Banc (NYSE:ASB – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.12. The company had revenue of $296.32 million for the quarter, compared to analyst estimates of $281.69 million. Associated Banc had a return on equity of 8.63% and a net
margin of 28.30%. During the same quarter in the previous year, the company earned $0.56 EPS. As a group, equities research analysts predict that Associated Banc-Corp will post 2.18 earnings per share for the current year.
Associated Banc Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. Associated Banc's payout ratio is currently 38.46%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Associated Banc to $28.00 in a research report on Friday, July 22nd. Jefferies Financial Group lowered their target price on shares of Associated Banc from $23.00 to $20.00 in a research report on Monday, July 11th. Finally, Stephens upped their price target on shares of Associated Banc to $23.00 in a research report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $23.67.
Associated Banc Profile
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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.
Further Reading
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