Associated Banc-Corp (NYSE:ASB) Position Reduced by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 55.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,516 shares of the bank's stock after selling 63,141 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Associated Banc were worth $1,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Associated Banc by 14.1% during the second quarter. Assenagon Asset Management S.A. now owns 55,365 shares of the bank's stock worth $1,171,000 after acquiring an additional 6,852 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Associated Banc by 31.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 28,530 shares of the bank's stock valued at $603,000 after purchasing an additional 6,768 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Associated Banc by 54.8% in the second quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank's stock valued at $735,000 after purchasing an additional 12,296 shares during the period. Miller Howard Investments Inc. NY increased its stake in Associated Banc by 1.4% in the second quarter. Miller Howard Investments Inc. NY now owns 57,831 shares of the bank's stock valued at $1,223,000 after purchasing an additional 786 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Associated Banc by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,497 shares of the bank's stock worth $687,000 after buying an additional 4,003 shares during the period. Hedge funds and other institutional investors own 82.98% of the company's stock.

Insider Buying and Selling

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company's stock, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the sale, the executive vice president now directly owns 100,204 shares in the company, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Piper Sandler lifted their price target on Associated Banc from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $28.00 target price on shares of Associated Banc in a report on Thursday, December 5th. Wells Fargo & Company increased their price target on shares of Associated Banc from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Associated Banc from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Barclays upped 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. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.00.

Associated Banc Trading Down 0.8 %

Shares of Associated Banc stock traded down $0.19 during trading hours on Thursday, hitting $23.70. The company's stock had a trading volume of 1,625,377 shares, compared to its average volume of 1,450,261. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $3.58 billion, a PE ratio of 19.75, a P/E/G ratio of 1.90 and a beta of 0.93. The business has a fifty day moving average of $25.10 and a 200 day moving average of $22.68. Associated Banc-Corp has a 1-year low of $19.40 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The firm had revenue of $607.54 million during 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 earned $0.53 EPS. As a group, equities analysts forecast that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.23 per share. This is an increase from Associated Banc's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Monday, December 2nd. Associated Banc's dividend payout ratio (DPR) is presently 76.67%.

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.