Mason Street Advisors LLC Purchases 11,190 Shares of Associated Banc Corp (NYSE:ASB)
Mason Street Advisors LLC raised its holdings in Associated Banc Corp (NYSE:ASB) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,664 shares of the bank’s stock after acquiring an additional 11,190 shares during the quarter. Mason Street Advisors LLC owned 0.05% of Associated Banc worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Northwestern Mutual Investment Management Company LLC lifted its holdings in Associated Banc by 76.3% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 34,899 shares of the bank’s stock valued at $867,000 after acquiring an additional 15,102 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Associated Banc by 66.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,891 shares of the bank’s stock valued at $345,000 after acquiring an additional 5,551 shares during the last quarter. Gideon Capital Advisors Inc. acquired a new stake in Associated Banc in the 1st quarter valued at about $388,000. Principal Financial Group Inc. raised its holdings in Associated Banc by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 748,846 shares of the bank’s stock worth $18,609,000 after buying an additional 104,482 shares during the period. Finally, Koch Industries Inc. raised its holdings in Associated Banc by 82.5% during the 1st quarter. Koch Industries Inc. now owns 15,261 shares of the bank’s stock worth $379,000 after buying an additional 6,900 shares during the period. 76.48% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Associated Banc from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, May 1st. Barclays boosted their price objective on Associated Banc from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, April 23rd. DA Davidson boosted their price objective on Associated Banc from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, April 20th. Sandler O’Neill upgraded Associated Banc from a “hold” rating to a “buy” rating in a report on Friday, April 20th. Finally, Robert W. Baird upgraded Associated Banc from a “neutral” rating to an “outperform” rating in a report on Friday, April 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.40.
Shares of Associated Banc traded up $0.07, reaching $28.03, during trading hours on Monday, according to MarketBeat.com. The company’s stock had a trading volume of 537,969 shares, compared to its average volume of 1,366,232. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 2.03 and a beta of 0.99. Associated Banc Corp has a 1-year low of $20.95 and a 1-year high of $29.02.
Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, April 19th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.09. The business had revenue of $300.25 million during the quarter, compared to the consensus estimate of $292.49 million. Associated Banc had a net margin of 18.87% and a return on equity of 8.53%. During the same quarter last year, the firm posted $0.35 EPS. equities research analysts expect that Associated Banc Corp will post 1.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, May 31st. This represents a $0.60 annualized dividend and a yield of 2.14%. Associated Banc’s dividend payout ratio (DPR) is currently 39.47%.
Associated Banc Profile
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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