Associated Banc-Corp (NYSE:ASB) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 36.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,655 shares of the bank's stock after selling 91,555 shares during the quarter. Jane Street Group LLC owned about 0.10% of Associated Banc worth $3,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASB. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Associated Banc by 4.9% in the 2nd 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 last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Associated Banc by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank's stock worth $419,000 after buying an additional 525 shares during the period. Arizona State Retirement System boosted its position in shares of Associated Banc by 1.4% during the second quarter. Arizona State Retirement System now owns 42,068 shares of the bank's stock worth $890,000 after buying an additional 586 shares during the period. Truist Financial Corp raised its holdings in shares of Associated Banc by 2.4% in the 2nd quarter. Truist Financial Corp now owns 27,082 shares of the bank's stock valued at $573,000 after buying an additional 636 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Associated Banc by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank's stock worth $1,072,000 after acquiring an additional 656 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.

Insiders Place Their Bets

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the transaction, the executive vice president now directly owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the sale, the executive vice president now owns 100,204 shares of the company's stock, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by corporate insiders.

Associated Banc Stock Up 1.2 %

Shares of NYSE ASB traded up $0.29 during midday trading on Friday, hitting $23.99. 3,322,939 shares of the company's stock were exchanged, compared to its average volume of 1,458,442. The company has a market cap of $3.63 billion, a PE ratio of 19.99, a P/E/G ratio of 1.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. Associated Banc-Corp has a twelve month low of $19.40 and a twelve month high of $28.18. The firm's fifty day simple moving average is $25.15 and its 200-day simple moving average is $22.69.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The firm had revenue of $607.54 million during the quarter, compared to analysts' expectations of $336.52 million. During the same period in the previous year, the company earned $0.53 earnings per share. Research analysts predict that Associated Banc-Corp will post 2.13 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, December 2nd. This is an increase from Associated Banc's previous quarterly dividend of $0.22. Associated Banc's dividend payout ratio (DPR) is currently 76.67%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ASB shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $28.00 price target on shares of Associated Banc in a research note on Thursday, December 5th. StockNews.com raised shares of Associated Banc from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Barclays increased their price objective on Associated Banc from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on Associated Banc from $25.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.00.

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.