MetLife Investment Management LLC Sells 1,264 Shares of Associated Banc-Corp (NYSE:ASB)

MetLife Investment Management LLC decreased its holdings 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 160,194 shares of the bank’s stock after selling 1,264 shares during the quarter. MetLife Investment Management LLC owned 0.11% of Associated Banc worth $3,451,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of Associated Banc by 114.6% in the third quarter. BNP Paribas Financial Markets now owns 96,752 shares of the bank’s stock valued at $2,084,000 after purchasing an additional 51,672 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Associated Banc in the third quarter valued at approximately $955,000. Advantage Alpha Capital Partners LP boosted its holdings in shares of Associated Banc by 24.7% in the third quarter. Advantage Alpha Capital Partners LP now owns 21,593 shares of the bank’s stock valued at $465,000 after purchasing an additional 4,274 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Associated Banc by 14.6% in the third quarter. Fisher Asset Management LLC now owns 509,000 shares of the bank’s stock valued at $10,964,000 after purchasing an additional 65,000 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of Associated Banc by 7.6% in the third quarter. Algert Global LLC now owns 61,713 shares of the bank’s stock valued at $1,329,000 after purchasing an additional 4,370 shares during the period. Institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ASB shares. Royal Bank of Canada boosted their price target on Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a 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. Wells Fargo & Company upped their target price on Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Barclays upped their target price on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.33.

Associated Banc Stock Performance

Shares of ASB stock opened at $25.95 on Wednesday. The business’s fifty day simple moving average is $24.01 and its 200-day simple moving average is $22.32. The company has a market cap of $3.93 billion, a PE ratio of 21.63, a PEG ratio of 1.90 and a beta of 0.93. 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-Corp has a 12-month low of $18.56 and a 12-month high of $28.18.

Associated Banc (NYSE:ASB) last issued its quarterly 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 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 in the prior year, the firm posted $0.53 earnings per share. Analysts expect that Associated Banc-Corp will post 2.13 earnings per share 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. Investors of record on Monday, December 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.55%. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. Associated Banc’s dividend payout ratio is presently 76.67%.

Insider Activity at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the sale, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This trade represents a 15.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David L. Stein sold 29,536 shares of the 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 in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,641 shares of company stock valued at $1,435,936 in the last ninety days. Company insiders own 1.45% of the company’s stock.

Associated Banc Company 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.