Associated Banc-Corp (NYSE:ASB) Shares Bought by Crestline Management LP

Crestline Management LP lifted its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 162.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,013 shares of the bank's stock after buying an additional 46,396 shares during the quarter. Crestline Management LP's holdings in Associated Banc were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ASB. Quarry LP increased its stake in shares of Associated Banc by 154.3% during the fourth quarter. Quarry LP now owns 1,073 shares of the bank's stock valued at $26,000 after purchasing an additional 651 shares in the last quarter. Covestor Ltd lifted its holdings in Associated Banc by 221.0% in the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank's stock valued at $36,000 after acquiring an additional 1,032 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Associated Banc by 49.6% during 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 during the fourth quarter valued at approximately $56,000. Finally, Sugar Maple Asset Management LLC bought a new position in Associated Banc in the 4th quarter worth $64,000. 82.98% of the stock is owned by institutional investors.

Insider Activity at Associated Banc

In related news, Director John B. Williams sold 2,830 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 66,915 shares of the company's stock, valued at $1,678,897.35. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew J. Harmening purchased 12,910 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $23.25 per share, with a total value of $300,157.50. Following the completion of the acquisition, the chief executive officer now directly owns 319,269 shares of the company's stock, valued at $7,423,004.25. This trade represents a 4.21% increase in their position. The disclosure for this purchase can be found here. 1.45% of the stock is currently owned by corporate insiders.

Associated Banc Trading Up 0.5%

ASB traded up $0.13 during trading on Tuesday, reaching $24.51. The company had a trading volume of 241,591 shares, compared to its average volume of 1,531,087. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The stock has a market cap of $4.06 billion, a P/E ratio of 31.03, a PEG ratio of 1.52 and a beta of 0.79. The business has a 50 day simple moving average of $21.62 and a 200-day simple moving average of $23.91.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $348.97 million for the quarter, compared to the consensus estimate of $347.86 million. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.75%. Associated Banc's dividend payout ratio is presently 106.98%.

Analyst Ratings Changes

A number of research firms have commented on ASB. Stephens decreased their price target on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Truist Financial assumed coverage on shares of Associated Banc in a research report on Tuesday. They set a "hold" rating and a $26.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $27.00 to $26.00 in a report on Wednesday, April 9th. Finally, Robert W. Baird dropped their price target on Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Associated Banc presently has an average rating of "Hold" and an average target price of $26.00.

About Associated Banc

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.