Proficio Capital Partners LLC Makes New $353,000 Investment in Associated Banc-Corp (NYSE:ASB)

Proficio Capital Partners LLC bought a new position in Associated Banc-Corp (NYSE:ASB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,775 shares of the bank's stock, valued at approximately $353,000.

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in Associated Banc by 221.6% in the third quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank's stock worth $3,511,000 after acquiring an additional 112,323 shares in the last quarter. State Street Corp raised its position in shares of Associated Banc by 3.3% in the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank's stock worth $177,282,000 after purchasing an additional 261,877 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Associated Banc by 11,595.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank's stock worth $1,825,000 after purchasing an additional 75,717 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Associated Banc by 315.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank's stock valued at $12,907,000 after purchasing an additional 410,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Associated Banc by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock valued at $53,738,000 after purchasing an additional 111,310 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

ASB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a report on Friday, January 24th. Wells Fargo & Company upped their price objective on Associated Banc from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and issued a $28.00 target price on shares of Associated Banc in a report on Tuesday. Barclays lifted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 19th. Finally, Piper Sandler increased their price target on Associated Banc from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Associated Banc currently has an average rating of "Hold" and an average price target of $27.11.

Associated Banc Stock Performance

Shares of NYSE:ASB traded down $0.51 during midday trading on Friday, hitting $22.21. The company had a trading volume of 215,959 shares, compared to its average volume of 1,467,412. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 28.12, 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 company has a fifty day moving average of $24.07 and a two-hundred day moving average of $23.98. Associated Banc-Corp has a 12-month low of $19.76 and a 12-month high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping 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%. On average, equities research analysts expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.14%. Associated Banc's dividend payout ratio (DPR) is presently 116.46%.

Insider Activity

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the firm's 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 sale, the director now directly owns 66,915 shares of the company's stock, valued at $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now directly owns 49,495 shares of the company's stock, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% of the company's stock.

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.