Brandywine Global Investment Management LLC Reduces Stock Position in Associated Banc-Corp (NYSE:ASB)

Brandywine Global Investment Management LLC trimmed its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 43.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,794 shares of the bank's stock after selling 219,453 shares during the period. Brandywine Global Investment Management LLC owned 0.19% of Associated Banc worth $6,926,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in Associated Banc in the 4th quarter worth approximately $36,144,000. Vanguard Group Inc. boosted its stake in Associated Banc by 8.7% in the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock valued at $431,798,000 after acquiring an additional 1,444,068 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Associated Banc by 75.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,088,796 shares of the bank's stock valued at $26,022,000 after purchasing an additional 467,183 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Associated Banc by 315.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank's stock worth $12,907,000 after purchasing an additional 410,118 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Associated Banc by 3.3% during the third quarter. State Street Corp now owns 8,230,340 shares of the bank's stock worth $177,282,000 after purchasing an additional 261,877 shares during the period. Institutional investors own 82.98% of the company's stock.

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Insiders Place Their Bets

In related news, Director John B. Williams sold 2,830 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 66,915 shares of the company's stock, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now owns 49,495 shares of the company's stock, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ASB. Robert W. Baird cut their target price 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. Barclays boosted their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. Stephens reiterated an "equal weight" rating and issued a $28.00 target price on shares of Associated Banc in a report on Tuesday, March 25th. StockNews.com lowered shares of Associated Banc from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on Associated Banc from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $27.11.

Associated Banc Price Performance

Shares of NYSE:ASB traded up $0.44 during trading on Wednesday, hitting $22.62. 1,103,415 shares of the company were exchanged, compared to its average volume of 1,463,844. 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 $3.75 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $23.84 and its 200-day moving average is $24.05.

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

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.23 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.07%. 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.