Associated Banc-Corp (NYSE:ASB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,739,736 shares of the bank's stock after selling 21,848 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.05% of Associated Banc worth $39,196,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Moody Aldrich Partners LLC purchased a new position in shares of Associated Banc in the first quarter valued at approximately $1,842,000. Leeward Investments LLC MA purchased a new position in shares of Associated Banc in the first quarter valued at approximately $12,345,000. Principal Financial Group Inc. lifted its position in shares of Associated Banc by 2.8% in the first quarter. Principal Financial Group Inc. now owns 379,996 shares of the bank's stock valued at $8,561,000 after acquiring an additional 10,448 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Associated Banc by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 33,238 shares of the bank's stock valued at $749,000 after acquiring an additional 500 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Associated Banc in the first quarter valued at approximately $541,000. Hedge funds and other institutional investors 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 business's stock in a transaction on Friday, May 9th. The stock was bought at an average price of $23.25 per share, with a total value of $300,157.50. Following the completion of the purchase, the chief executive officer directly owned 319,269 shares in the company, valued at $7,423,004.25. The trade was a 4.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.45% of the stock is currently owned by company insiders.

Associated Banc Trading Up 0.6%

Associated Banc stock traded up $0.16 during trading on Friday, reaching $25.86. 594,675 shares of the company were exchanged, compared to its average volume of 1,562,642. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.18. The company has a market capitalization of $4.29 billion, a P/E ratio of 30.07, a PEG ratio of 0.95 and a beta of 0.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.87 and a quick ratio of 0.87. The stock's 50 day simple moving average is $24.09 and its two-hundred day simple moving average is $23.43.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, topping analysts' consensus estimates 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 8.47% and a net margin of 6.02%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business 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 fiscal year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.23 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.92 annualized dividend and a yield of 3.56%. Associated Banc's dividend payout ratio (DPR) is 106.98%.

Wall Street Analysts Forecast Growth

ASB has been the topic of several research reports. Stephens decreased their target price on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Raymond James Financial restated an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a research report on Monday, April 28th. Wells Fargo & Company raised their target price on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods decreased their target price on Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial began coverage on Associated Banc in a research report on Tuesday, May 13th. They issued a "hold" rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.22.

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.