Associated Banc-Corp (NYSE:ASB) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,849,649 shares of the bank's stock after purchasing an additional 265,378 shares during the quarter. Geode Capital Management LLC owned approximately 2.55% of Associated Banc worth $92,026,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after purchasing an additional 579 shares during the period. Crews Bank & Trust purchased a new position in Associated Banc in the fourth quarter worth approximately $56,000. Sugar Maple Asset Management LLC purchased a new position in Associated Banc in the fourth quarter valued at $64,000. R Squared Ltd purchased a new stake in Associated Banc during the fourth quarter worth approximately $67,000. Finally, GAMMA Investing LLC lifted its position in shares of Associated Banc by 10.7% during the 4th quarter. GAMMA Investing LLC now owns 4,704 shares of the bank's stock worth $112,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Insider Buying and Selling

In related news, Director John B. Williams sold 2,830 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the sale, the director now directly owns 66,915 shares in the company, valued at $1,678,897.35. The trade was a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the transaction, the director now owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ASB. Wells Fargo & Company upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $27.00 to $26.00 in a research note on Wednesday, April 9th. Robert W. Baird reduced their price objective on shares of Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Raymond James lowered their target price on Associated Banc from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Barclays lowered their price target on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their target price on Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Associated Banc currently has an average rating of "Hold" and an average price target of $26.67.

Associated Banc Trading Down 0.6 %

Associated Banc stock traded down $0.13 during trading on Wednesday, reaching $19.68. The company had a trading volume of 380,320 shares, compared to its average volume of 1,489,231. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 1.52 and a beta of 0.78. The stock's 50 day moving average price is $22.64 and its two-hundred day moving average price is $23.88. Associated Banc-Corp has a 12-month low of $18.32 and a 12-month high of $28.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.24% and a net margin of 5.15%. As a group, equities analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.23 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 4.67%. Associated Banc's dividend payout ratio (DPR) is 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.