Great West Life Assurance Co. Can Acquires 7,559 Shares of Associated Banc Corp (ASB)

Great West Life Assurance Co. Can boosted its holdings in Associated Banc Corp (NYSE:ASB) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 103,069 shares of the bank’s stock after purchasing an additional 7,559 shares during the period. Great West Life Assurance Co. Can’s holdings in Associated Banc were worth $1,894,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Baird Financial Group Inc. raised its stake in shares of Associated Banc by 18.8% during the third quarter. Baird Financial Group Inc. now owns 14,511 shares of the bank’s stock valued at $374,000 after acquiring an additional 2,301 shares during the last quarter. Swiss National Bank raised its stake in shares of Associated Banc by 0.8% during the third quarter. Swiss National Bank now owns 297,940 shares of the bank’s stock valued at $7,746,000 after acquiring an additional 2,300 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Associated Banc during the fourth quarter valued at about $303,000. Vanguard Group Inc. raised its stake in shares of Associated Banc by 2.0% during the third quarter. Vanguard Group Inc. now owns 15,465,462 shares of the bank’s stock valued at $402,102,000 after acquiring an additional 304,733 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Associated Banc by 106.6% during the third quarter. GSA Capital Partners LLP now owns 41,160 shares of the bank’s stock valued at $1,070,000 after acquiring an additional 21,238 shares during the last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

In related news, insider David L. Stein sold 6,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $22.36, for a total value of $134,160.00. Following the completion of the transaction, the insider now directly owns 58,533 shares of the company’s stock, valued at $1,308,797.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John A. Utz sold 7,500 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $23.06, for a total transaction of $172,950.00. Following the completion of the transaction, the insider now directly owns 61,466 shares of the company’s stock, valued at $1,417,405.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,894 shares of company stock valued at $1,284,380. 2.69% of the stock is owned by insiders.

Several brokerages have recently commented on ASB. Royal Bank of Canada lowered their price objective on shares of Associated Banc to $24.00 and set a “sector perform” rating for the company in a research note on Friday, January 25th. Morgan Stanley lowered their price objective on shares of Associated Banc from $27.50 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 11th. Bank of America downgraded shares of Associated Banc from a “neutral” rating to an “underperform” rating and set a $21.00 price objective for the company. in a research note on Thursday, January 10th. Raymond James downgraded shares of Associated Banc from a “mkt perform” rating to an “underperform” rating in a research note on Monday, January 7th. Finally, Jefferies Financial Group raised shares of Associated Banc from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Associated Banc presently has an average rating of “Hold” and an average price target of $25.60.

ASB stock opened at $20.66 on Monday. Associated Banc Corp has a 1 year low of $18.53 and a 1 year high of $29.02. The stock has a market capitalization of $3.40 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.43 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.24.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Associated Banc had a net margin of 22.09% and a return on equity of 9.79%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $311.13 million. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Associated Banc Corp will post 2.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, February 28th. Associated Banc’s payout ratio is currently 33.50%.

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About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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

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