Allspring Global Investments Holdings LLC lessened its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,926,847 shares of the bank's stock after selling 65,400 shares during the period. Allspring Global Investments Holdings LLC owned 1.16% of Associated Banc worth $48,345,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock worth $61,927,000 after purchasing an additional 1,598,951 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Associated Banc by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,321,120 shares of the bank's stock worth $52,295,000 after purchasing an additional 72,685 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Associated Banc by 200.3% during the first quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank's stock worth $42,853,000 after purchasing an additional 1,287,458 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Associated Banc by 12.6% during the first quarter. American Century Companies Inc. now owns 1,841,927 shares of the bank's stock worth $41,499,000 after purchasing an additional 206,259 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Associated Banc by 83.2% during the first quarter. Invesco Ltd. now owns 1,308,946 shares of the bank's stock worth $29,491,000 after purchasing an additional 594,361 shares during the last quarter. Institutional investors own 82.98% of the company's stock.
Insider Activity at Associated Banc
In related news, EVP Patrick Edward Ahern sold 3,342 shares of Associated Banc stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the sale, the executive vice president owned 41,472 shares of the company's stock, valued at approximately $1,086,566.40. This trade represents a 7.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $354,120.00. Following the completion of the sale, the executive vice president directly owned 111,228 shares in the company, valued at approximately $3,029,850.72. This represents a 10.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,342 shares of company stock valued at $494,360. 1.10% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ASB. Keefe, Bruyette & Woods raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Friday. Barclays raised their price target on Associated Banc from $30.00 to $32.00 and gave the company a "positive" rating in a report on Wednesday, October 8th. Robert W. Baird raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Piper Sandler raised their price target on Associated Banc from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.11.
View Our Latest Stock Analysis on ASB
Associated Banc Trading Up 3.9%
NYSE ASB opened at $26.35 on Wednesday. The firm has a market cap of $4.37 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91. The stock's 50-day moving average is $25.85 and its 200-day moving average is $24.15. Associated Banc-Corp has a one year low of $18.32 and a one year high of $28.18.
Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. The company had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.
Associated Banc Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.5%. Associated Banc's dividend payout ratio (DPR) is currently 119.48%.
Associated Banc Profile
(
Free Report)
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.
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