Wolverine Asset Management LLC Has $347,000 Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Wolverine Asset Management LLC lifted its position in Associated Banc-Corp (NYSE:ASB) by 317.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,099 shares of the bank’s stock after buying an additional 12,245 shares during the quarter. Wolverine Asset Management LLC’s holdings in Associated Banc were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ASB. Bessemer Group Inc. lifted its position in Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after acquiring an additional 907 shares during the last quarter. Quest Partners LLC bought a new stake in Associated Banc during the 2nd quarter valued at approximately $38,000. Farther Finance Advisors LLC grew its holdings in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after buying an additional 1,438 shares during the last quarter. Neo Ivy Capital Management bought a new position in Associated Banc in the 2nd quarter worth approximately $93,000. Finally, nVerses Capital LLC acquired a new position in shares of Associated Banc during the second quarter worth approximately $140,000. 82.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Baird R W cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.89.

Insider Transactions at Associated Banc

In related news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares in the company, valued at approximately $1,108,254.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,641 shares of company stock valued at $1,481,496 in the last three months. 1.45% of the stock is owned by corporate insiders.

Associated Banc Stock Performance

Shares of NYSE:ASB opened at $27.27 on Thursday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. The business’s fifty day moving average price is $22.61 and its two-hundred day moving average price is $21.90. Associated Banc-Corp has a fifty-two week low of $17.29 and a fifty-two week high of $28.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter last year, the company posted $0.53 EPS. As a group, analysts predict that Associated Banc-Corp will post 2.12 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s payout ratio is 73.33%.

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.