23,263 Shares in Associated Banc-Corp (NYSE:ASB) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new position in Associated Banc-Corp (NYSE:ASB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,263 shares of the bank's stock, valued at approximately $556,000.

A number of other institutional investors have also recently made changes to their positions in ASB. Point72 DIFC Ltd purchased a new position in Associated Banc during the 3rd quarter valued at approximately $39,000. Smartleaf Asset Management LLC raised its stake in Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock valued at $42,000 after purchasing an additional 579 shares in the last quarter. Crews Bank & Trust purchased a new stake in Associated Banc during the fourth quarter valued at $56,000. Sugar Maple Asset Management LLC purchased a new position in shares of Associated Banc in the 4th quarter worth $64,000. Finally, R Squared Ltd purchased a new stake in shares of Associated Banc during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 82.98% of the company's stock.

Insiders Place Their Bets

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the transaction, the director now directly owns 49,495 shares of the company's stock, valued at $1,223,021.45. The trade was 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 currently owned by corporate insiders.

Remove Ads

Associated Banc Stock Up 1.7 %

Shares of ASB stock traded up $0.34 on Tuesday, hitting $19.66. The stock had a trading volume of 435,349 shares, compared to its average volume of 1,473,402. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. Associated Banc-Corp has a one year low of $18.33 and a one year high of $28.18. The business has a 50 day moving average price of $23.50 and a 200 day moving average price of $24.02. The company has a market cap of $3.26 billion, a PE ratio of 24.89, a P/E/G ratio of 1.52 and a beta of 0.78.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 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%. Research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 4.68%. Associated Banc's dividend payout ratio (DPR) is presently 116.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASB. Stephens reissued an "equal weight" rating and set a $28.00 target price on shares of Associated Banc in a research report on Tuesday, March 25th. Robert W. Baird dropped their price target on shares of Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a "market perform" rating in a research report on Friday, January 24th. Raymond James cut their target price on Associated Banc from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Finally, StockNews.com downgraded Associated Banc from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.11.

About Associated Banc

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.