Citigroup Inc. Has $7.06 Million Holdings in Associated Banc-Corp $ASB

Citigroup Inc. decreased its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 313,249 shares of the bank's stock after selling 25,857 shares during the period. Citigroup Inc. owned approximately 0.19% of Associated Banc worth $7,058,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ASB. Wells Fargo & Company MN increased its position in Associated Banc by 21.9% during the 4th quarter. Wells Fargo & Company MN now owns 115,710 shares of the bank's stock worth $2,765,000 after buying an additional 20,805 shares during the period. Invesco Ltd. increased its position in Associated Banc by 15.8% during the 4th quarter. Invesco Ltd. now owns 714,585 shares of the bank's stock worth $17,079,000 after buying an additional 97,524 shares during the period. Renaissance Technologies LLC bought a new position in Associated Banc during the 4th quarter worth $6,525,000. Barclays PLC increased its position in Associated Banc by 23.7% during the 4th quarter. Barclays PLC now owns 459,420 shares of the bank's stock worth $10,981,000 after buying an additional 87,972 shares during the period. Finally, Mariner LLC grew its holdings in shares of Associated Banc by 3.3% during the 4th quarter. Mariner LLC now owns 17,882 shares of the bank's stock worth $427,000 after purchasing an additional 566 shares in the last quarter. Institutional investors own 82.98% of the company's stock.

Associated Banc Trading Up 4.4%

Shares of ASB traded up $1.12 during mid-day trading on Friday, reaching $26.33. 177,808 shares of the company were exchanged, compared to its average volume of 1,526,635. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market capitalization of $4.37 billion, a PE ratio of 34.20, a PEG ratio of 0.98 and a beta of 0.84. The business has a 50 day simple moving average of $24.79 and a two-hundred day simple moving average of $23.49.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. The company had revenue of $366.98 million during the quarter, compared to the consensus estimate of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same period last year, the company earned $0.52 earnings per share. On average, analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc's dividend payout ratio (DPR) is 119.48%.

Analyst Ratings Changes

Several analysts have recently issued reports on ASB shares. Truist Financial increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Royal Bank Of Canada increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Wells Fargo & Company increased their target price on Associated Banc from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods increased their target price on Associated Banc from $27.00 to $28.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $27.00 price objective on shares of Associated Banc in a research note on Monday, April 28th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Associated Banc presently has a consensus rating of "Hold" and an average price target of $27.78.

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.