Dimensional Fund Advisors LP Cuts Stake in Associated Banc-Corp (NYSE:ASB)

Dimensional Fund Advisors LP lessened its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,327,083 shares of the bank's stock after selling 398,611 shares during the quarter. Dimensional Fund Advisors LP owned about 6.83% of Associated Banc worth $246,818,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in Associated Banc by 87.7% in the 4th quarter. First Trust Advisors LP now owns 1,997,553 shares of the bank's stock worth $47,742,000 after buying an additional 933,062 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Associated Banc by 6.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 132,025 shares of the bank's stock worth $3,153,000 after acquiring an additional 7,873 shares during the period. Farringdon Capital Ltd. purchased a new position in shares of Associated Banc in the fourth quarter valued at $388,000. NewEdge Advisors LLC increased its position in shares of Associated Banc by 13.1% during the fourth quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock valued at $84,000 after buying an additional 408 shares during the period. Finally, Walleye Capital LLC purchased a new stake in shares of Associated Banc in the fourth quarter worth about $1,244,000. Hedge funds and other institutional investors own 82.98% of the company's stock.

Associated Banc Trading Up 1.6 %

Shares of Associated Banc stock traded up $0.36 during midday trading on Friday, reaching $22.38. 3,793,028 shares of the company's stock traded hands, compared to its average volume of 1,535,539. The company has a market cap of $3.71 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.52 and a beta of 0.78. The stock has a 50 day moving average of $22.01 and a 200-day moving average of $23.84. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $28.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88.

Associated Banc (NYSE:ASB - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. The firm had revenue of $348.97 million during the quarter, compared to analyst estimates of $347.86 million. As a group, equities analysts expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.23 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 4.11%. Associated Banc's dividend payout ratio (DPR) is presently 116.46%.

Insider Activity

In other news, Director John B. Williams sold 2,830 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now directly owns 66,915 shares in the company, valued at $1,678,897.35. This trade represents a 4.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at approximately $1,223,021.45. The trade was 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Wells Fargo & Company upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $27.00 to $26.00 in a research report on Wednesday, April 9th. Barclays reduced their target price on Associated Banc from $28.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Raymond James cut their price objective on Associated Banc from $30.00 to $28.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Finally, StockNews.com cut shares of Associated Banc from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.11.

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.