New York State Teachers Retirement System Reduces Position in Associated Banc-Corp $ASB

New York State Teachers Retirement System decreased its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 47.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 99,949 shares of the bank’s stock after selling 91,636 shares during the period. New York State Teachers Retirement System’s holdings in Associated Banc were worth $2,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ASB. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its position in Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Associated Banc in the third quarter worth $51,000. Hoese & Co LLP purchased a new stake in Associated Banc in the fourth quarter worth $52,000. Finally, Global Retirement Partners LLC purchased a new stake in Associated Banc in the fourth quarter worth $56,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Stock Up 1.9%

NYSE:ASB opened at $30.40 on Friday. Associated Banc-Corp has a 1-year low of $23.63 and a 1-year high of $31.50. The company has a 50-day moving average of $28.83 and a 200 day moving average of $27.46. The firm has a market cap of $5.73 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.10 and a beta of 0.76. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same quarter last year, the firm posted $0.59 EPS. As a group, research analysts anticipate that Associated Banc-Corp will post 2.91 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.2%. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Analysts Set New Price Targets

ASB has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Robert W. Baird lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Barclays boosted their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Truist Financial raised their target price on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.80.

Insider Buying and Selling at Associated Banc

In related news, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Matthew R. Braeger sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president directly owned 11,777 shares of the company’s stock, valued at $331,758.09. This trade represents a 29.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,299 shares of company stock valued at $801,760 in the last ninety days. Company insiders own 0.71% of the company’s stock.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.