Charles Schwab Investment Management Inc. Has $46.03 Million Position in Associated Banc-Corp (NYSE:ASB)

Charles Schwab Investment Management Inc. grew its stake in shares of Associated Banc-Corp (NYSE:ASB) by 0.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,137,125 shares of the bank’s stock after buying an additional 17,425 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Associated Banc were worth $46,034,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Associated Banc by 291.3% in the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after buying an additional 1,163,807 shares during the period. Point72 Asset Management L.P. boosted its holdings in Associated Banc by 12.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock worth $24,309,000 after buying an additional 123,271 shares during the period. Thrivent Financial for Lutherans grew its holdings in Associated Banc by 221.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock valued at $3,511,000 after buying an additional 112,323 shares in the last quarter. Interval Partners LP increased its holdings in Associated Banc by 27.6% during the 2nd quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock worth $9,368,000 after acquiring an additional 95,928 shares during the period. Finally, RIA Advisory Group LLC purchased a new stake in shares of Associated Banc in the 3rd quarter valued at about $1,935,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Trading Down 0.1 %

Associated Banc stock opened at $26.69 on Monday. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91. The business’s fifty day simple moving average is $23.91 and its two-hundred day simple moving average is $22.29. Associated Banc-Corp has a 12 month low of $17.51 and a 12 month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period last year, the business posted $0.53 EPS. As a group, equities analysts predict that Associated Banc-Corp will post 2.13 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.45%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. Associated Banc’s payout ratio is 73.33%.

Insider Buying and Selling

In other news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,641 shares of company stock valued at $1,435,936. 1.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

ASB has been the subject of several research reports. Royal Bank of Canada upped their target price on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Barclays raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Associated Banc presently has a consensus rating of “Hold” and an average price target of $23.89.

About Associated Banc

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.