State of Alaska Department of Revenue decreased its holdings in shares of Associated Banc-Corp (NYSE:ASB – Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,700 shares of the bank’s stock after selling 2,016 shares during the quarter. State of Alaska Department of Revenue’s holdings in Associated Banc were worth $303,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Creative Planning raised its stake in Associated Banc by 27.2% during the second quarter. Creative Planning now owns 20,998 shares of the bank’s stock worth $341,000 after acquiring an additional 4,491 shares during the period. First Command Bank acquired a new stake in shares of Associated Banc in the second quarter valued at approximately $28,000. Bailard Inc. boosted its holdings in Associated Banc by 27.8% during the second quarter. Bailard Inc. now owns 16,100 shares of the bank’s stock worth $261,000 after buying an additional 3,500 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Associated Banc by 10.5% during the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the bank’s stock worth $716,000 after buying an additional 4,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Associated Banc by 2.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,722,937 shares of the bank’s stock worth $44,193,000 after purchasing an additional 59,026 shares during the period. Institutional investors and hedge funds own 80.52% of the company’s stock.
Insider Transactions at Associated Banc
In related news, EVP Randall J. Erickson sold 26,335 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $19.00, for a total transaction of $500,365.00. Following the completion of the transaction, the executive vice president now owns 138,055 shares in the company, valued at $2,623,045. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.49% of the company’s stock.
Associated Banc Trading Up 0.7 %
Associated Banc (NYSE:ASB – Get Free Report) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. Associated Banc had a net margin of 18.25% and a return on equity of 9.73%. The firm had revenue of $575.22 million for the quarter, compared to the consensus estimate of $327.83 million. During the same quarter in the previous year, the company earned $0.62 EPS. Equities research analysts forecast that Associated Banc-Corp will post 2.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. StockNews.com started coverage on shares of Associated Banc in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Robert W. Baird upgraded shares of Associated Banc from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $24.00 in a research report on Tuesday, September 5th. Wells Fargo & Company restated an “equal weight” rating on shares of Associated Banc in a research report on Wednesday, October 4th. Raymond James upped their target price on shares of Associated Banc from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Finally, Royal Bank of Canada cut their price objective on shares of Associated Banc from $19.00 to $18.00 and set a “sector perform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.78.
View Our Latest Research Report on ASB
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 operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.
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