Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,799 Shares of Associated Banc-Corp (NYSE:ASB)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Associated Banc-Corp (NYSE:ASB) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,296 shares of the bank’s stock after purchasing an additional 4,799 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Associated Banc were worth $891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASB. Assenagon Asset Management S.A. increased its position in Associated Banc by 315.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock worth $12,907,000 after purchasing an additional 410,118 shares during the period. Verition Fund Management LLC grew its position in shares of Associated Banc by 11.2% during the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock worth $65,401,000 after buying an additional 305,133 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Associated Banc during the 3rd quarter worth about $6,082,000. State Street Corp grew its position in shares of Associated Banc by 3.3% during the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after buying an additional 261,877 shares during the period. Finally, NFJ Investment Group LLC acquired a new position in shares of Associated Banc during the 3rd quarter worth about $3,245,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction on Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the sale, the director now owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the sale, the director now directly owns 49,495 shares of the company’s stock, valued at $1,223,021.45. This represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Associated Banc Trading Down 0.2 %

NYSE ASB opened at $22.79 on Friday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.52 and a beta of 0.90. The stock’s 50 day moving average price is $24.23 and its two-hundred day moving average price is $23.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. Associated Banc-Corp has a 52 week low of $19.76 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. As a group, analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, March 3rd. Associated Banc’s dividend payout ratio is 116.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Robert W. Baird decreased their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.11.

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.