Associated Banc-Corp (NYSE:ASB) Stake Lowered by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 68.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,610 shares of the bank's stock after selling 25,210 shares during the quarter. Congress Wealth Management LLC DE's holdings in Associated Banc were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after acquiring an additional 579 shares during the period. Point72 DIFC Ltd acquired a new position in Associated Banc during the third quarter worth approximately $39,000. Crews Bank & Trust purchased a new position in Associated Banc during the fourth quarter worth approximately $56,000. Sugar Maple Asset Management LLC acquired a new position in shares of Associated Banc in the 4th quarter valued at $64,000. Finally, R Squared Ltd purchased a new stake in shares of Associated Banc during the 4th quarter valued at $67,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eileen A. Kamerick sold 7,000 shares of the business's stock in a transaction dated 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 sale, the director now owns 49,495 shares of the company's stock, valued at approximately $1,223,021.45. The trade was a 12.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Williams sold 2,830 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the transaction, the director now directly owns 66,915 shares in the company, valued at $1,678,897.35. The trade was a 4.06 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Associated Banc from $26.00 to $27.00 and gave the company an "equal weight" rating in a report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and issued a $28.00 price objective on shares of Associated Banc in a research note on Tuesday, March 25th. Barclays increased their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada lifted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Associated Banc has an average rating of "Hold" and an average target price of $27.11.

Associated Banc Stock Down 11.5 %

ASB traded down $2.60 during trading hours on Thursday, reaching $20.03. 1,630,233 shares of the stock traded hands, compared to its average volume of 1,466,514. Associated Banc-Corp has a fifty-two week low of $19.76 and a fifty-two week high of $28.18. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The firm's fifty day simple moving average is $23.73 and its two-hundred day simple moving average is $24.02.

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

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, March 3rd. Associated Banc's payout ratio is 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.