Associated Banc-Corp (NYSE:ASB) Stake Lowered by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 684,595 shares of the bank's stock after selling 26,420 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.45% of Associated Banc worth $14,746,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ASB. Vanguard Personalized Indexing Management LLC grew its holdings in Associated Banc by 4.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank's stock worth $234,000 after acquiring an additional 525 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Associated Banc by 2.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank's stock valued at $419,000 after acquiring an additional 525 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Associated Banc by 1.4% in the second quarter. Arizona State Retirement System now owns 42,068 shares of the bank's stock valued at $890,000 after acquiring an additional 586 shares in the last quarter. Truist Financial Corp lifted its position in shares of Associated Banc by 2.4% in the second quarter. Truist Financial Corp now owns 27,082 shares of the bank's stock valued at $573,000 after acquiring an additional 636 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Associated Banc by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank's stock valued at $1,072,000 after acquiring an additional 656 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Insider Transactions at Associated Banc

In other Associated Banc news, 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 value 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. This represents a 15.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,641 shares of company stock worth $1,435,936. 1.45% of the stock is currently owned by corporate insiders.

Associated Banc Stock Up 0.7 %

NYSE ASB traded up $0.17 during mid-day trading on Wednesday, reaching $26.12. 1,453,221 shares of the company's stock traded hands, compared to its average volume of 1,439,949. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.90 and a beta of 0.93. The company has a fifty day simple moving average of $24.20 and a 200-day simple moving average of $22.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a 1-year low of $18.63 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same quarter last year, the firm earned $0.53 EPS. As a group, equities research analysts expect that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.23 dividend. This is a positive change from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.52%. Associated Banc's dividend payout ratio (DPR) is presently 76.67%.

Analyst Upgrades and Downgrades

ASB has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on Associated Banc from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $25.00 to $28.00 and gave the stock a "market perform" rating in a report on Wednesday. StockNews.com upgraded Associated Banc from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Barclays increased their target price on Associated Banc from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company increased their target price on Associated Banc from $24.00 to $26.00 and gave the company an "equal weight" rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.78.

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.