Associated Banc-Corp (NYSE:ASB) Stock Holdings Lessened by Deutsche Bank AG

Deutsche Bank AG lessened its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 19.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 189,019 shares of the bank's stock after selling 46,469 shares during the period. Deutsche Bank AG owned approximately 0.12% of Associated Banc worth $4,518,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Crestline Management LP lifted its stake in shares of Associated Banc by 162.1% in the fourth quarter. Crestline Management LP now owns 75,013 shares of the bank's stock valued at $1,793,000 after purchasing an additional 46,396 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Associated Banc in the fourth quarter valued at about $221,000. Azora Capital LP acquired a new stake in shares of Associated Banc in the fourth quarter valued at about $852,000. Balyasny Asset Management L.P. lifted its stake in shares of Associated Banc by 263.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,597,950 shares of the bank's stock valued at $38,191,000 after purchasing an additional 1,158,576 shares during the period. Finally, Algert Global LLC lifted its stake 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 purchasing an additional 13,680 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ASB shares. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $27.00 to $26.00 in a research note on Wednesday, April 9th. Barclays cut their target price on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Raymond James restated an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a report on Monday, April 28th. Stephens lowered their target price on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.00.

Associated Banc Trading Down 0.4%

ASB traded down $0.09 during trading on Friday, hitting $22.99. 962,768 shares of the company's stock were exchanged, compared to its average volume of 1,546,913. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The stock has a 50 day moving average price of $21.96 and a 200 day moving average price of $23.87. The firm has a market cap of $3.81 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79.

Associated Banc (NYSE:ASB - Get Free Report) last posted its 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. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. The business had revenue of $348.97 million for the quarter, compared to analysts' expectations of $347.86 million. During the same period in the previous year, the company posted $0.52 earnings per share. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

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 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 4.00%. Associated Banc's payout ratio is currently 106.98%.

Insider Transactions at Associated Banc

In related news, CEO Andrew J. Harmening purchased 12,910 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $23.25 per share, with a total value of $300,157.50. Following the completion of the acquisition, the chief executive officer now directly owns 319,269 shares of the company's stock, valued at approximately $7,423,004.25. The trade was a 4.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. This represents a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.45% 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.