Retirement Systems of Alabama Has $4.68 Million Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Retirement Systems of Alabama increased its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,661 shares of the bank's stock after acquiring an additional 15,278 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Associated Banc worth $4,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Associated Banc by 221.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank's stock valued at $3,511,000 after buying an additional 112,323 shares during the period. State Street Corp increased its holdings in Associated Banc by 3.3% in the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank's stock valued at $177,282,000 after buying an additional 261,877 shares during the period. Harbor Capital Advisors Inc. increased its holdings 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 valued at $1,825,000 after buying an additional 75,717 shares during the period. Assenagon Asset Management S.A. increased its holdings in Associated Banc by 315.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank's stock valued at $12,907,000 after buying an additional 410,118 shares during the period. Finally, Crescent Grove Advisors LLC increased its holdings in Associated Banc by 15.4% in the 4th quarter. Crescent Grove Advisors LLC now owns 101,591 shares of the bank's stock valued at $2,428,000 after buying an additional 13,521 shares during the period. Institutional investors own 82.98% of the company's stock.

Associated Banc Price Performance

NYSE ASB traded up $0.06 on Friday, hitting $25.08. 796,029 shares of the company were exchanged, compared to its average volume of 1,521,734. The firm has a 50 day moving average of $24.76 and a two-hundred day moving average of $23.64. The company has a market cap of $3.79 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.61 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Associated Banc-Corp has a 1-year low of $19.76 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, equities analysts predict that Associated Banc-Corp will post 2.41 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.23 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.67%. Associated Banc's payout ratio is presently 116.46%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ASB shares. Piper Sandler upped their target price on shares of Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, December 5th. Royal Bank of Canada upped their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, January 24th. StockNews.com lowered shares of Associated Banc from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Barclays upped their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $27.00.

About Associated Banc

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.