Associated Banc-Corp $ASB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 15.7% in the second quarter, Holdings Channel reports. The firm owned 299,356 shares of the bank’s stock after selling 55,811 shares during the period. ProShare Advisors LLC’s holdings in Associated Banc were worth $7,301,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ASB. Teacher Retirement System of Texas acquired a new stake in shares of Associated Banc during the first quarter valued at about $541,000. M&T Bank Corp acquired a new position in Associated Banc during the first quarter worth $442,000. Cerity Partners LLC boosted its position in shares of Associated Banc by 69.1% during the first quarter. Cerity Partners LLC now owns 26,705 shares of the bank’s stock worth $602,000 after buying an additional 10,912 shares during the period. State of Michigan Retirement System grew its stake in shares of Associated Banc by 3.2% in the first quarter. State of Michigan Retirement System now owns 39,278 shares of the bank’s stock valued at $885,000 after buying an additional 1,200 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of Associated Banc by 3.0% in the 1st quarter. Xponance Inc. now owns 23,554 shares of the bank’s stock valued at $531,000 after buying an additional 690 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ASB shares. Keefe, Bruyette & Woods raised their target price on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Associated Banc in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Truist Financial upped their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 28th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $30.00 target price (up from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.22.

Associated Banc Stock Down 0.0%

Shares of Associated Banc stock opened at $25.53 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.05. The company has a market capitalization of $4.24 billion, a P/E ratio of 27.16, a P/E/G ratio of 0.98 and a beta of 0.84. The company has a 50 day moving average of $25.68 and a 200 day moving average of $24.87.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $386.49 million for the quarter, compared to analyst estimates of $377.94 million. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. During the same period last year, the business earned $0.56 EPS. As a group, research analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.24 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, December 1st. Associated Banc’s payout ratio is 102.13%.

Insiders Place Their Bets

In other news, EVP Matthew R. Braeger sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. This represents a 13.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 13,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $27.24, for a total value of $354,120.00. Following the completion of the transaction, the executive vice president owned 111,228 shares in the company, valued at approximately $3,029,850.72. The trade was a 10.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,342 shares of company stock valued at $494,360 in the last ninety days. Insiders own 1.10% 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.