Associated Banc Corp Sells 166,747 Shares of Associated Banc-Corp (NYSE:ASB)

Associated Banc Corp decreased its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,529,519 shares of the bank's stock after selling 166,747 shares during the quarter. Associated Banc makes up 1.8% of Associated Banc Corp's investment portfolio, making the stock its 10th biggest holding. Associated Banc Corp owned approximately 1.67% of Associated Banc worth $60,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ASB. Harbour Investments Inc. lifted its position in Associated Banc by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 38,674 shares of the bank's stock worth $833,000 after acquiring an additional 785 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Associated Banc by 6.2% in the 3rd quarter. Victory Capital Management Inc. now owns 592,472 shares of the bank's stock valued at $12,762,000 after buying an additional 34,824 shares during the period. RIA Advisory Group LLC acquired a new stake in shares of Associated Banc in the 3rd quarter valued at approximately $1,935,000. Thrivent Financial for Lutherans lifted its holdings in shares of Associated Banc by 221.6% in 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 during the period. Finally, LMR Partners LLP acquired a new stake in shares of Associated Banc in the 3rd quarter valued at approximately $280,000. Hedge funds and other institutional investors own 82.98% of the company's stock.

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Insider Activity

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

Wall Street Analysts Forecast Growth

ASB has been the subject of several research analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $28.00 price objective on shares of Associated Banc in a research note on Friday, January 24th. Piper Sandler raised their price objective on Associated Banc from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. StockNews.com downgraded Associated Banc from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. Finally, Barclays raised their price objective on Associated Banc from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.11.

Associated Banc Price Performance

Associated Banc stock traded up $0.40 during mid-day trading on Wednesday, hitting $22.84. 1,801,432 shares of the company were exchanged, compared to its average volume of 1,379,679. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The business's 50 day simple moving average is $24.28 and its two-hundred day simple moving average is $23.97. The company has a market capitalization of $3.80 billion, a P/E ratio of 28.91, a PEG ratio of 1.52 and a beta of 0.90. Associated Banc-Corp has a 12-month low of $19.76 and a 12-month high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, March 3rd. Associated Banc's dividend payout ratio is currently 116.46%.

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.