Intech Investment Management LLC Buys 23,076 Shares of Associated Banc-Corp (NYSE:ASB)

Intech Investment Management LLC lifted its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 117.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,697 shares of the bank's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in shares of Associated Banc in the 2nd quarter valued at approximately $38,000. Farther Finance Advisors LLC lifted its position in Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock valued at $69,000 after buying an additional 1,438 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Associated Banc during the 2nd quarter valued at $93,000. nVerses Capital LLC purchased a new stake in shares of Associated Banc in the 2nd quarter worth about $140,000. Finally, CWM LLC increased its stake in shares of Associated Banc by 30.6% in the 2nd quarter. CWM LLC now owns 7,084 shares of the bank's stock worth $150,000 after acquiring an additional 1,661 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Associated Banc from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price target on Associated Banc from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Finally, Barclays raised their price objective on Associated Banc from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Associated Banc has an average rating of "Hold" and an average price target of $23.89.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 19,044 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the sale, the executive vice president now directly owns 100,204 shares of the company's stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lith Karen Van sold 8,061 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the sale, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,641 shares of company stock worth $1,435,936. 1.45% of the stock is owned by company insiders.

Associated Banc Stock Performance

NYSE:ASB traded down $0.03 during trading hours on Friday, reaching $26.69. The company had a trading volume of 867,910 shares, compared to its average volume of 1,436,453. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.93 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. The firm's 50 day moving average price is $23.81 and its 200-day moving average price is $22.26. Associated Banc-Corp has a 52 week low of $17.51 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analysts' expectations of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, analysts forecast that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.23 dividend. This is an increase from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.45%. Associated Banc's dividend payout ratio (DPR) is presently 73.33%.

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 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.