Associated Banc-Corp (NYSE:ASB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Associated Banc-Corp (NYSE:ASB) by 23.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,011,880 shares of the bank’s stock after selling 624,749 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.33% of Associated Banc worth $47,480,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Associated Banc by 3.3% in the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after acquiring an additional 261,877 shares during the period. Geode Capital Management LLC increased its holdings in shares of Associated Banc by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock valued at $77,219,000 after purchasing an additional 79,658 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Associated Banc by 11.2% in the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock valued at $65,401,000 after purchasing an additional 305,133 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Associated Banc by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock valued at $46,034,000 after purchasing an additional 17,425 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Associated Banc by 6.2% in the 3rd quarter. Victory Capital Management Inc. now owns 592,472 shares of the bank’s stock valued at $12,762,000 after purchasing an additional 34,824 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Barclays increased their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Wells Fargo & Company increased their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Finally, Stephens restated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Associated Banc Stock Performance

NYSE:ASB opened at $25.05 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $24.77 and a two-hundred day moving average price of $23.62. Associated Banc-Corp has a twelve month low of $19.72 and a twelve month high of $28.18. The company has a market capitalization of $3.79 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. As a group, research analysts expect that Associated Banc-Corp will post 2.41 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.67%. Associated Banc’s dividend payout ratio (DPR) is presently 116.46%.

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.