EMC Capital Management Raises Stake in Associated Banc-Corp (NYSE:ASB)

EMC Capital Management lifted its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 13,834.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,869 shares of the bank's stock after acquiring an additional 27,669 shares during the period. Associated Banc accounts for approximately 0.4% of EMC Capital Management's investment portfolio, making the stock its 19th biggest holding. EMC Capital Management's holdings in Associated Banc were worth $666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Associated Banc by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 4,704 shares of the bank's stock valued at $112,000 after buying an additional 455 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Associated Banc by 2.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank's stock valued at $419,000 after purchasing an additional 525 shares during the last quarter. Truist Financial Corp boosted its position in shares of Associated Banc by 2.4% in the 2nd quarter. Truist Financial Corp now owns 27,082 shares of the bank's stock valued at $573,000 after purchasing an additional 636 shares during the period. Thrivent Financial for Lutherans increased its position in Associated Banc by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank's stock worth $1,072,000 after buying an additional 656 shares during the period. Finally, UMB Bank n.a. lifted its stake in Associated Banc by 4.4% in the fourth quarter. UMB Bank n.a. now owns 16,182 shares of the bank's stock valued at $387,000 after buying an additional 677 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Price Performance

ASB stock traded down $0.66 on Monday, reaching $24.48. 448,643 shares of the company's stock were exchanged, compared to its average volume of 1,683,586. Associated Banc-Corp has a twelve month low of $19.40 and a twelve month high of $28.18. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $25.05 and a 200-day moving average of $23.52. The firm has a market cap of $3.70 billion, a PE ratio of 31.04, a P/E/G ratio of 1.60 and a beta of 0.94.

Associated Banc (NYSE:ASB - Get Free Report) last issued its 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 net margin of 5.15% and a return on equity of 8.24%. As a group, equities analysts predict that Associated Banc-Corp will post 2.37 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.23 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.76%. Associated Banc's payout ratio is 116.46%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares of the company's stock, valued at $2,222,406.03. This represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.45% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About Associated Banc

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.