Associated Banc-Corp (NYSE:ASB) Shares Acquired by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC increased its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,368 shares of the bank’s stock after purchasing an additional 4,549 shares during the quarter. Nicolet Advisory Services LLC owned 0.07% of Associated Banc worth $2,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc during the third quarter valued at about $39,000. 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 valued at $42,000 after purchasing an additional 579 shares during the last quarter. Crews Bank & Trust purchased a new stake in Associated Banc in the fourth quarter valued at approximately $56,000. Sugar Maple Asset Management LLC acquired a new position in Associated Banc during the fourth quarter worth $64,000. Finally, R Squared Ltd purchased a new position in shares of Associated Banc during the fourth quarter worth $67,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Stock Performance

Shares of ASB opened at $22.62 on Thursday. 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 market cap of $3.75 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Associated Banc-Corp has a 12-month low of $19.76 and a 12-month high of $28.18. The company’s 50 day simple moving average is $23.84 and its 200-day simple moving average is $24.05.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (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, equities analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio is presently 116.46%.

Insiders Place Their Bets

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the sale, the director now owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ASB shares. Wells Fargo & Company raised their target price on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Robert W. Baird reduced their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a research note on Tuesday, March 25th. StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Piper Sandler increased their price target on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and an average target price of $27.11.

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.