Principal Financial Group Inc. Purchases 24,876 Shares of Associated Banc-Corp (NYSE:ASB)

Principal Financial Group Inc. increased its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 369,548 shares of the bank's stock after buying an additional 24,876 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Associated Banc worth $8,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc in the 3rd quarter valued at $39,000. Crews Bank & Trust acquired a new position in Associated Banc in the fourth quarter valued at about $56,000. Sugar Maple Asset Management LLC acquired a new position in Associated Banc in the fourth quarter valued at about $64,000. R Squared Ltd acquired a new position in Associated Banc in the fourth quarter valued at about $67,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock valued at $69,000 after purchasing an additional 1,438 shares in the last quarter. Institutional investors own 82.98% of the company's stock.

Associated Banc Price Performance

NYSE:ASB traded down $0.11 during trading hours on Wednesday, reaching $23.37. 1,226,391 shares of the company were exchanged, compared to its average volume of 1,367,725. The business has a 50 day moving average of $24.66 and a 200 day moving average of $23.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. Associated Banc-Corp has a 1-year low of $19.76 and a 1-year high of $28.18. The company has a market capitalization of $3.89 billion, a P/E ratio of 29.59, a P/E/G ratio of 1.52 and a beta of 0.94.

Associated Banc (NYSE:ASB - Get Free Report) last released its 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%. Research analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Monday, March 3rd. Associated Banc's payout ratio is 116.46%.

Analyst Ratings Changes

A number of analysts have recently commented on ASB shares. Royal Bank of Canada boosted their price target on Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, January 24th. Stephens restated an "equal weight" rating and issued a $28.00 price objective on shares of Associated Banc in a research note on Friday, January 24th. Barclays upped 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. Robert W. Baird dropped their price objective on Associated Banc from $28.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. Finally, Wells Fargo & Company upped their target price 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. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.00.

Insider Activity

In related news, Director John B. Williams sold 2,830 shares of the firm's 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 transaction, the director now directly owns 66,915 shares of the company's stock, valued at $1,678,897.35. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm's 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 directly owns 49,495 shares of the company's stock, valued at approximately $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

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.