Associated Banc-Corp $ASB Shares Sold by Versor Investments LP

Versor Investments LP cut its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 23.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,500 shares of the bank’s stock after selling 3,800 shares during the quarter. Versor Investments LP’s holdings in Associated Banc were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Associated Banc by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,321,120 shares of the bank’s stock valued at $52,295,000 after acquiring an additional 72,685 shares in the last quarter. AQR Capital Management LLC boosted its stake in Associated Banc by 200.3% during the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock valued at $42,853,000 after acquiring an additional 1,287,458 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Associated Banc by 4.0% during the 2nd quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock worth $45,354,000 after acquiring an additional 71,676 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Associated Banc by 12.6% during the 1st quarter. American Century Companies Inc. now owns 1,841,927 shares of the bank’s stock worth $41,499,000 after acquiring an additional 206,259 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Stock Down 0.6%

NYSE:ASB opened at $25.25 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $25.76 and a 200-day moving average of $24.73. The firm has a market capitalization of $4.19 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.The business had revenue of $386.49 million for the quarter, compared to the consensus estimate of $377.94 million. During the same quarter last year, the business posted $0.56 EPS. Analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.8%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, December 1st. Associated Banc’s dividend payout ratio is presently 102.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Robert W. Baird upped their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Raymond James Financial reiterated an “outperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Wells Fargo & Company upped their price target on Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Truist Financial raised their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 28th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.44.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP Patrick Edward Ahern sold 3,342 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.20, for a total transaction of $87,560.40. Following the completion of the transaction, the executive vice president directly owned 41,472 shares of the company’s stock, valued at $1,086,566.40. The trade was a 7.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matthew R. Braeger sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the sale, the executive vice president owned 13,346 shares in the company, valued at $351,533.64. The trade was a 13.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,342 shares of company stock worth $494,360. Insiders own 1.45% of the company’s stock.

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.