Associated Banc-Corp (NYSE:ASB) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Associated Banc-Corp (NYSE:ASB - Free Report) by 114.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,752 shares of the bank's stock after purchasing an additional 51,672 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of Associated Banc worth $2,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Associated Banc during the second quarter worth $38,000. Farther Finance Advisors LLC boosted its holdings in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock worth $69,000 after buying an additional 1,438 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Associated Banc in the second quarter valued at approximately $93,000. nVerses Capital LLC acquired a new position in Associated Banc in the 2nd quarter valued at $140,000. Finally, CWM LLC grew its holdings in shares of Associated Banc by 30.6% during the second quarter. CWM LLC now owns 7,084 shares of the bank's stock worth $150,000 after buying an additional 1,661 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP David L. Stein sold 29,536 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares of the company's stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now owns 100,204 shares of the company's stock, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,641 shares of company stock worth $1,435,936. 1.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ASB shares. Piper Sandler boosted their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays lifted their price objective on Associated Banc from $24.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Thursday. StockNews.com upgraded Associated Banc from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $25.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $28.00 price target on shares of Associated Banc in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Associated Banc currently has a consensus rating of "Hold" and an average price target of $25.89.

Associated Banc Stock Down 0.2 %

Shares of Associated Banc stock traded down $0.05 during trading hours on Friday, reaching $26.01. 1,279,640 shares of the company were exchanged, compared to its average volume of 2,294,497. The firm has a market cap of $3.93 billion, a PE ratio of 21.68, a PEG ratio of 1.88 and a beta of 0.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. Associated Banc-Corp has a 1 year low of $18.96 and a 1 year high of $28.18. The stock's fifty day moving average is $24.38 and its 200 day moving average is $22.43.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts forecast that Associated Banc-Corp will post 2.13 earnings per share for the current year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Associated Banc's previous quarterly dividend of $0.22. Associated Banc's dividend payout ratio is 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.