Intech Investment Management LLC Has $1.89 Million Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Intech Investment Management LLC lifted its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 85.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,073 shares of the bank's stock after purchasing an additional 36,376 shares during the quarter. Intech Investment Management LLC owned 0.05% of Associated Banc worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ASB. State Street Corp increased its stake in Associated Banc by 3.3% in the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank's stock valued at $177,282,000 after buying an additional 261,877 shares during the period. Geode Capital Management LLC raised its stake in shares of Associated Banc by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank's stock worth $77,219,000 after purchasing an additional 79,658 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Associated Banc by 11.2% during the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank's stock valued at $65,401,000 after buying an additional 305,133 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Associated Banc by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock valued at $53,738,000 after buying an additional 111,310 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Associated Banc by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,761,584 shares of the bank's stock worth $42,102,000 after buying an additional 31,956 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts have commented on ASB shares. Raymond James decreased their target price on shares of Associated Banc from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Keefe, Bruyette & Woods upped 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. StockNews.com downgraded shares of Associated Banc from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Robert W. Baird reduced their price target on Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. Finally, Barclays increased their price objective on Associated Banc from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $27.11.

Associated Banc Stock Performance

ASB traded down $0.11 during midday trading on Tuesday, reaching $23.09. The company's stock had a trading volume of 1,122,250 shares, compared to its average volume of 1,391,885. 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 company has a fifty day simple moving average of $24.20 and a 200 day simple moving average of $23.99. The stock has a market cap of $3.82 billion, a P/E ratio of 29.23, a PEG ratio of 1.52 and a beta of 0.90. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18.

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

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Monday, March 3rd. Associated Banc's dividend payout ratio is currently 116.46%.

Insider Activity at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of the business's 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 49,495 shares of the company's stock, valued at approximately $1,223,021.45. This trade represents 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 corporate insiders.

Associated Banc 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.