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

Versor Investments LP lowered its position in Associated Banc-Corp (NYSE:ASB) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. raised its position in shares of Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Associated Banc during the second quarter valued at approximately $34,000. Quarry LP raised its holdings in Associated Banc by 77.7% in the 1st quarter. Quarry LP now owns 1,907 shares of the bank’s stock valued at $43,000 after acquiring an additional 834 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in shares of Associated Banc in the second quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Associated Banc by 17.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank’s stock worth $83,000 after buying an additional 559 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Down 0.6%

Shares of Associated Banc stock opened at $25.25 on Friday. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. 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 company has a fifty day moving average price of $25.76 and a 200 day moving average price of $24.73.

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

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a 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 102.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank Of Canada upped their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Wells Fargo & Company upped their price objective on Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Piper Sandler increased their target price on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Associated Banc in a report on Wednesday, October 8th. Finally, Barclays upped their price target on Associated Banc from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.44.

Insider Activity

In other news, EVP John A. Utz sold 13,000 shares of Associated Banc stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $27.24, for a total transaction of $354,120.00. Following the sale, the executive vice president owned 111,228 shares in the company, valued at $3,029,850.72. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick Edward Ahern sold 3,342 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total transaction of $87,560.40. Following the transaction, the executive vice president directly owned 41,472 shares in the company, valued at approximately $1,086,566.40. The trade was a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,342 shares of company stock worth $494,360 over the last 90 days. Company 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.