Victory Capital Management Inc. Has $12.76 Million Stake in Associated Banc-Corp (NYSE:ASB)

Victory Capital Management Inc. raised its position 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 Securities & Exchange Commission. The firm owned 592,472 shares of the bank's stock after purchasing an additional 34,824 shares during the period. Victory Capital Management Inc. owned 0.39% of Associated Banc worth $12,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASB. Vanguard Personalized Indexing Management LLC raised its position in shares of Associated Banc by 4.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank's stock worth $234,000 after buying an additional 525 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Associated Banc by 2.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank's stock worth $419,000 after buying an additional 525 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Associated Banc by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 42,068 shares of the bank's stock worth $890,000 after purchasing an additional 586 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Associated Banc by 2.4% in the 2nd quarter. Truist Financial Corp now owns 27,082 shares of the bank's stock worth $573,000 after purchasing an additional 636 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Associated Banc by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank's stock worth $1,072,000 after purchasing an additional 656 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ASB has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Stephens restated an "equal weight" rating and set a $24.00 price target on shares of Associated Banc in a report on Tuesday, July 30th. Robert W. Baird cut their price target on shares of Associated Banc from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Associated Banc from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $23.89.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares of the company's stock, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares in the company, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,641 shares of company stock worth $1,481,496. 1.45% of the stock is owned by insiders.

Associated Banc Stock Up 0.5 %

Shares of ASB traded up $0.14 during mid-day trading on Thursday, hitting $26.69. 907,089 shares of the company's stock were exchanged, compared to its average volume of 1,423,952. The firm has a fifty day moving average of $23.14 and a two-hundred day moving average of $22.07. Associated Banc-Corp has a twelve month low of $17.30 and a twelve month high of $28.18. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.88 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 (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. During the same quarter in the prior year, the business posted $0.53 EPS. On average, sell-side analysts forecast that Associated Banc-Corp will post 2.13 earnings per share for the current year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 a positive change from Associated Banc's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. Associated Banc's dividend payout ratio (DPR) is presently 73.33%.

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.