Assenagon Asset Management S.A. Has $2.80 Million Position in Associated Banc-Corp (NYSE:ASB)

Assenagon Asset Management S.A. lifted its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 134.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,939 shares of the bank's stock after buying an additional 74,574 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of Associated Banc worth $2,799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ASB. Bessemer Group Inc. boosted its position in shares of Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank's stock worth $26,000 after buying an additional 907 shares during the period. Quest Partners LLC acquired a new stake in Associated Banc in the second quarter worth approximately $38,000. Meeder Asset Management Inc. acquired a new stake in Associated Banc in the first quarter worth approximately $74,000. Neo Ivy Capital Management acquired a new stake in Associated Banc in the second quarter worth approximately $93,000. Finally, nVerses Capital LLC acquired a new stake in Associated Banc in the second quarter worth approximately $140,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Stock Down 1.2 %

NYSE:ASB traded down $0.28 during trading hours on Thursday, hitting $23.74. 1,766,561 shares of the stock traded hands, compared to its average volume of 1,334,785. The firm has a 50 day moving average price of $21.93 and a 200 day moving average price of $21.53. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc-Corp has a fifty-two week low of $15.94 and a fifty-two week high of $24.31. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.66 and a beta of 0.93.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The business had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. During the same period in the prior year, the business posted $0.53 earnings per share. Equities research analysts anticipate that Associated Banc-Corp will post 2.06 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Associated Banc's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.88%. Associated Banc's dividend payout ratio is 88.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ASB shares. Baird R W downgraded Associated Banc from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Barclays upped their target price on Associated Banc from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Stephens reiterated an "equal weight" rating and set a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Piper Sandler increased their price objective on Associated Banc from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price objective on Associated Banc from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Friday, July 26th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Associated Banc has a consensus rating of "Hold" and an average price target of $23.89.

Insider Transactions at Associated Banc

In other news, 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 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction on Wednesday, October 30th. The shares were 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 in the company, valued at $2,423,934.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lith Karen Van sold 8,061 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,105 shares of company stock valued at $671,324. 1.45% of the stock is owned by insiders.

Associated Banc Company 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.