111 Capital Buys Shares of 36,070 Associated Banc-Corp (NYSE:ASB)

111 Capital purchased a new position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,070 shares of the bank's stock, valued at approximately $862,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Associated Banc by 8.7% during the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock worth $431,798,000 after buying an additional 1,444,068 shares during the period. FMR LLC increased its stake in shares of Associated Banc by 9.4% during the fourth quarter. FMR LLC now owns 14,838,422 shares of the bank's stock worth $354,638,000 after buying an additional 1,272,441 shares during the period. Geode Capital Management LLC increased its stake in shares of Associated Banc by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank's stock worth $92,026,000 after buying an additional 265,378 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Associated Banc by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock worth $53,738,000 after buying an additional 111,310 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Associated Banc by 19.9% during the fourth quarter. Northern Trust Corp now owns 2,182,882 shares of the bank's stock worth $52,171,000 after buying an additional 362,267 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

Insider Transactions at Associated Banc

In other Associated Banc news, CEO Andrew J. Harmening bought 12,910 shares of the stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the transaction, the chief executive officer now owns 319,269 shares in the company, valued at approximately $7,423,004.25. The trade was a 4.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm's 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Associated Banc Stock Performance

Shares of ASB traded down $0.10 during mid-day trading on Friday, reaching $23.19. 1,035,980 shares of the company's stock were exchanged, compared to its average volume of 1,545,906. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market capitalization of $3.85 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79. The business's fifty day simple moving average is $21.99 and its 200-day simple moving average is $23.75. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.18.

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

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given 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 3.97%. Associated Banc's dividend payout ratio (DPR) is presently 106.98%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $27.00 to $26.00 in a research note on Wednesday, April 9th. Stephens cut their price objective on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Raymond James reissued an "outperform" rating and set a $27.00 price objective on shares of Associated Banc in a report on Monday, April 28th. Truist Financial initiated coverage on shares of Associated Banc in a report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $26.00.

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.