Associated Banc-Corp (NYSE:ASB) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in Associated Banc-Corp (NYSE:ASB - Free Report) by 25.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,645 shares of the bank's stock after purchasing an additional 87,651 shares during the quarter. Prudential Financial Inc. owned approximately 0.28% of Associated Banc worth $10,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of Associated Banc during the 3rd quarter valued at about $39,000. Smartleaf Asset Management LLC raised its stake in Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after purchasing an additional 579 shares during the period. Crews Bank & Trust acquired a new position in shares of Associated Banc in the 4th quarter valued at $56,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Associated Banc during the 4th quarter valued at $64,000. Finally, R Squared Ltd acquired a new stake in shares of Associated Banc during the 4th quarter worth $67,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Stock Up 0.6 %

Shares of Associated Banc stock traded up $0.14 during trading hours on Wednesday, hitting $22.32. 187,472 shares of the company's stock traded hands, compared to its average volume of 1,552,204. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18. The company has a market cap of $3.70 billion, a PE ratio of 28.25, a PEG ratio of 1.52 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $24.06.

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Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Equities research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 4.12%. Associated Banc's dividend payout ratio is presently 116.46%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the company'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 sale, the director now owns 49,495 shares in the company, valued at $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction that occurred 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 completion of the transaction, the director now owns 66,915 shares of the company's stock, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ASB. StockNews.com lowered Associated Banc from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Raymond James cut their price target on shares of Associated Banc from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Barclays boosted their price objective 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. Stephens reissued an "equal weight" rating and issued a $28.00 target price on shares of Associated Banc in a research note on Tuesday, March 25th. Finally, Piper Sandler upped their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.11.

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.