Cibc World Markets Corp Makes New $362,000 Investment in Associated Banc-Corp (NYSE:ASB)

Cibc World Markets Corp bought a new position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,130 shares of the bank's stock, valued at approximately $362,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock valued at $42,000 after acquiring an additional 579 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Associated Banc in the 3rd quarter valued at $39,000. Crews Bank & Trust acquired a new position in shares of Associated Banc in the 4th quarter valued at $56,000. Sugar Maple Asset Management LLC bought a new stake in shares of Associated Banc in the 4th quarter valued at $64,000. Finally, R Squared Ltd acquired a new stake in Associated Banc during the 4th quarter worth $67,000. Institutional investors own 82.98% of the company's stock.

Insider Transactions at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the transaction, the director now directly owns 66,915 shares in the company, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

ASB has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Wells Fargo & Company increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. Stephens restated an "equal weight" rating and set a $28.00 target price on shares of Associated Banc in a report on Tuesday. Barclays increased their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Associated Banc currently has a consensus rating of "Hold" and an average target price of $27.11.

Associated Banc Stock Down 1.5 %

Shares of NYSE ASB traded down $0.34 during mid-day trading on Friday, hitting $22.38. The company had a trading volume of 857,059 shares, compared to its average volume of 1,469,927. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $23.98. The company has a market capitalization of $3.71 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Associated Banc-Corp has a one year low of $19.76 and a one year high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share 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%. On average, equities analysts expect that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc's dividend payout ratio (DPR) is presently 116.46%.

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.