BNP Paribas Financial Markets Has $801,000 Stock Holdings in Associated Banc-Corp (NYSE:ASB)

BNP Paribas Financial Markets lowered its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 65.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 33,499 shares of the bank's stock after selling 63,253 shares during the period. BNP Paribas Financial Markets' holdings in Associated Banc were worth $801,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC lifted its position in shares of Associated Banc by 22.2% in the fourth quarter. Algert Global LLC now owns 75,393 shares of the bank's stock valued at $1,802,000 after buying an additional 13,680 shares during the last quarter. Rhino Investment Partners Inc raised its stake in Associated Banc by 11.0% in the 4th quarter. Rhino Investment Partners Inc now owns 869,591 shares of the bank's stock valued at $20,783,000 after acquiring an additional 86,000 shares during the period. Comerica Bank lifted its holdings in Associated Banc by 3.1% during the 4th quarter. Comerica Bank now owns 47,607 shares of the bank's stock valued at $1,138,000 after purchasing an additional 1,415 shares during the last quarter. Soros Fund Management LLC acquired a new position in shares of Associated Banc in the fourth quarter valued at $9,560,000. Finally, Northern Trust Corp raised its position in shares of Associated Banc by 19.9% in the fourth quarter. Northern Trust Corp now owns 2,182,882 shares of the bank's stock valued at $52,171,000 after purchasing an additional 362,267 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Price Performance

Associated Banc stock traded up $0.52 during mid-day trading on Tuesday, reaching $23.52. 880,151 shares of the company were exchanged, compared to its average volume of 1,544,552. The company has a fifty day simple moving average of $21.98 and a 200-day simple moving average of $23.84. The firm has a market cap of $3.90 billion, a PE ratio of 29.77, a PEG ratio of 1.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $28.18.

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

Associated Banc Announces Dividend

The company 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Monday, June 2nd. Associated Banc's payout ratio is presently 106.98%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Andrew J. Harmening acquired 12,910 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $23.25 per share, with a total value of $300,157.50. Following the completion of the purchase, the chief executive officer now directly owns 319,269 shares of the company's stock, valued at $7,423,004.25. The trade was a 4.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. This represents a 12.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.