Associated Banc-Corp (NYSE:ASB) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its stake in shares of Associated Banc-Corp (NYSE:ASB) by 14.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,424 shares of the bank’s stock after selling 1,822 shares during the quarter. Guggenheim Capital LLC’s holdings in Associated Banc were worth $249,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd increased its holdings in Associated Banc by 221.0% in the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock worth $36,000 after buying an additional 1,032 shares during the period. Smartleaf Asset Management LLC increased its holdings in Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock worth $42,000 after buying an additional 579 shares during the period. Crews Bank & Trust acquired a new position in Associated Banc in the 4th quarter worth approximately $56,000. Sugar Maple Asset Management LLC acquired a new position in Associated Banc in the 4th quarter worth approximately $64,000. Finally, R Squared Ltd acquired a new position in Associated Banc in the 4th quarter worth approximately $67,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 49,495 shares of the company’s stock, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Associated Banc from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Friday. Robert W. Baird dropped their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Associated Banc in a research note on Monday. Stephens dropped their price objective on shares of Associated Banc from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and an average target price of $26.00.

Associated Banc Trading Up 0.6 %

Shares of NYSE:ASB opened at $22.47 on Tuesday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.78. 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 business’s 50 day moving average price is $21.89 and its 200-day moving average price is $23.89.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $348.97 million for the quarter, compared to analyst estimates of $347.86 million. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

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.