GSA Capital Partners LLP Acquires Shares of 9,511 Associated Banc Corp (ASB)

Saturday, June 30 2018

GSA Capital Partners LLP Acquires Shares of 9,511 Associated Banc Corp (ASB)

Posted by Susan Goodwin on Jun 30th, 2018 // No Comments
GSA Capital Partners LLP acquired a new stake in Associated Banc Corp (NYSE:ASB) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,511 shares of the bank’s stock, valued at approximately $236,000.
A number of other large investors have also added to or reduced their stakes in the stock. Zeke Capital Advisors LLC boosted its stake in Associated Banc by 12.3% in the fourth quarter. Zeke Capital Advisors LLC now owns 20,100 shares of the bank’s stock valued at $511,000 after buying an additional 2,200 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Associated Banc by 26.4% in the fourth quarter. Flinton Capital Management LLC now owns 10,816 shares of the bank’s stock valued at $275,000 after buying an additional 2,256 shares in the last quarter. Advantus Capital Management Inc boosted its stake in Associated Banc by 12.4% in the first quarter. Advantus Capital Management Inc now owns 20,937 shares of the bank’s stock valued at $520,000 after buying an additional 2,318 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Associated Banc by 9.2% in the first quarter. State of Wisconsin Investment Board now owns 33,946 shares of the bank’s stock valued at $844,000 after buying an additional 2,870 shares in the last quarter. Finally, AXA boosted its stake in Associated Banc by 9.9% in the fourth quarter. AXA now owns 34,300 shares of the bank’s stock valued at $871,000 after buying an additional 3,100 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds. Get Associated Banc alerts:
In other news, insider William M. Bohn sold 7,600 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $27.76, for a total transaction of $210,976.00. Following the completion of the transaction, the insider now directly owns 48,015 shares in the company, valued at $1,332,896.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink . Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $26.72, for a total value of $267,200.00. Following the transaction, the chief executive officer now owns 114,684 shares of the company’s stock, valued at $3,064,356.48. The disclosure for this sale can be found here . Insiders have sold 75,049 shares of company stock valued at $2,008,563 over the last 90 days. 2.13% of the stock is owned by corporate insiders. Associated Banc stock opened at $27.30 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.99 and a beta of 0.99. Associated Banc Corp has a 12 month low of $20.95 and a 12 month high of $29.02.
Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 19th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Associated Banc had a return on equity of 8.53% and a net margin of 18.87%. The firm had revenue of $300.25 million during the quarter, compared to the consensus estimate of $292.49 million. During the same period last year, the company earned $0.35 earnings per share. research analysts anticipate that Associated Banc Corp will post 1.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.20%. Associated Banc’s dividend payout ratio (DPR) is 39.47%.
Several research firms have commented on ASB. Zacks Investment Research downgraded Associated Banc from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. ValuEngine downgraded Associated Banc from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Barclays increased their target price on Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, April 23rd. Robert W. Baird upgraded Associated Banc from a “neutral” rating to an “outperform” rating in a research report on Friday, April 20th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $28.00 target price on shares of Associated Banc in a research report on Friday, April 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.40.
Associated Banc Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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. Receive News & Ratings for Associated Banc analysts' ratings for Associated Banc and related companies daily email newsletter .