Associated Banc-Corp (NYSE:ASB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 23.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,011,880 shares of the bank's stock after selling 624,749 shares during the period. Allspring Global Investments Holdings LLC owned about 1.33% of Associated Banc worth $47,480,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position 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 purchasing an additional 112,323 shares during the last quarter. State Street Corp increased its holdings in Associated Banc by 3.3% in the third quarter. State Street Corp now owns 8,230,340 shares of the bank's stock valued at $177,282,000 after buying an additional 261,877 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Associated Banc by 11,595.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank's stock valued at $1,825,000 after buying an additional 75,717 shares in the last quarter. Assenagon Asset Management S.A. raised its stake 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 valued at $12,907,000 after buying an additional 410,118 shares in the last quarter. Finally, Crescent Grove Advisors LLC raised its position in shares of Associated Banc by 15.4% during the 4th quarter. Crescent Grove Advisors LLC now owns 101,591 shares of the bank's stock worth $2,428,000 after acquiring an additional 13,521 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Stock Performance

Associated Banc stock traded up $0.06 during mid-day trading on Monday, reaching $25.08. 796,029 shares of the company were exchanged, compared to its average volume of 1,658,169. The firm has a market cap of $3.79 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The firm's 50-day simple moving average is $24.74 and its two-hundred day simple moving average is $23.67. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Equities analysts predict that Associated Banc-Corp will post 2.41 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, March 3rd. Associated Banc's dividend payout ratio is presently 116.46%.

Analyst Ratings Changes

Several equities analysts have commented on ASB shares. StockNews.com lowered shares of Associated Banc from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Royal Bank of Canada boosted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Barclays raised their price objective on Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Finally, Robert W. Baird reduced their target price on Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.00.

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.