Victory Capital Management Inc. Grows Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Victory Capital Management Inc. lifted its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 6.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 592,472 shares of the bank's stock after buying an additional 34,824 shares during the period. Victory Capital Management Inc. owned about 0.39% of Associated Banc worth $12,762,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Bessemer Group Inc. boosted its stake in shares of Associated Banc by 285.2% in the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank's stock valued at $26,000 after purchasing an additional 907 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Associated Banc during the second quarter worth $38,000. Farther Finance Advisors LLC increased its holdings in shares of Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock worth $69,000 after buying an additional 1,438 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Associated Banc during the second quarter worth $93,000. Finally, nVerses Capital LLC bought a new position in shares of Associated Banc in the 2nd quarter valued at $140,000. Institutional investors and hedge funds own 82.98% of the company's stock.

Insider Buying and Selling

In related news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares of the company's stock, valued at approximately $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,641 shares of company stock valued at $1,481,496. 1.45% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ASB shares. Stephens restated an "equal weight" rating and set a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Robert W. Baird dropped their price objective on shares of Associated Banc from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. Barclays upped their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Finally, Piper Sandler increased their price objective on Associated Banc from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $23.89.

Associated Banc Stock Performance

Shares of ASB stock opened at $26.56 on Thursday. The firm has a 50 day moving average of $23.14 and a 200-day moving average of $22.07. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 22.13 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a 52 week low of $17.30 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The company had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same period last year, the business posted $0.53 EPS. On average, equities analysts forecast that Associated Banc-Corp will post 2.12 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. 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 3.46%. The ex-dividend date is Monday, December 2nd. Associated Banc's dividend payout ratio is currently 73.33%.

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.