Stevens Capital Management LP Invests $1.42 Million in Associated Banc Corp (NYSE:ASB)

Stevens Capital Management LP bought a new position in shares of Associated Banc Corp (NYSE:ASB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 67,080 shares of the bank’s stock, valued at approximately $1,418,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Executive Wealth Management LLC bought a new position in shares of Associated Banc during the first quarter worth approximately $25,000. Nisa Investment Advisors LLC bought a new position in Associated Banc during the 2nd quarter worth $67,000. Fox Run Management L.L.C. bought a new position in Associated Banc during the 2nd quarter worth $228,000. Virtu Financial LLC bought a new position in Associated Banc during the 1st quarter worth $242,000. Finally, Sciencast Management LP bought a new position in Associated Banc during the 1st quarter worth $277,000. Institutional investors own 74.68% of the company’s stock.

Separately, Royal Bank of Canada set a $23.00 price objective on Associated Banc and gave the stock a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.78.



In other Associated Banc news, CFO Moral-Niles Christopher Del sold 3,972 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $20.28, for a total value of $80,552.16. Following the sale, the chief financial officer now owns 52,808 shares of the company’s stock, valued at approximately $1,070,946.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher C. Piotrowski sold 10,726 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $21.37, for a total value of $229,214.62. Following the completion of the sale, the insider now directly owns 40,276 shares in the company, valued at approximately $860,698.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,698 shares of company stock worth $362,767. Company insiders own 2.69% of the company’s stock.

Associated Banc stock traded up $0.48 during mid-day trading on Friday, reaching $19.12. 21,854 shares of the company were exchanged, compared to its average volume of 1,270,770. The company has a fifty day simple moving average of $20.76 and a 200-day simple moving average of $21.73. Associated Banc Corp has a 12 month low of $18.53 and a 12 month high of $27.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $3.22 billion, a PE ratio of 9.36, a PEG ratio of 1.28 and a beta of 1.17.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $309.46 million for the quarter, compared to analyst estimates of $315.84 million. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. During the same quarter last year, the company earned $0.53 EPS. Sell-side analysts anticipate that Associated Banc Corp will post 1.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, August 30th. Associated Banc’s dividend payout ratio is presently 33.50%.

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. 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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Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

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