Associated Banc-Corp $ASB Stock Position Lowered by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Associated Banc-Corp by 3.6%, now owning 9,952,556 shares valued at about $224 million.
• Institutional investors and hedge funds control 82.98% of Associated Banc's stock, with notable increases in stakes from firms like Wells Fargo and Barclays.
• The bank is set to pay a $0.23 quarterly dividend on September 15, representing a dividend yield of 3.6%.

Dimensional Fund Advisors LP decreased its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,952,556 shares of the bank's stock after selling 374,527 shares during the quarter. Dimensional Fund Advisors LP owned 6.00% of Associated Banc worth $224,226,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ASB. Quarry LP grew its position in shares of Associated Banc by 154.3% in the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after acquiring an additional 651 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after purchasing an additional 1,280 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Associated Banc by 13.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock worth $84,000 after purchasing an additional 408 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock worth $90,000 after purchasing an additional 1,122 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Associated Banc by 11.6% in the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock worth $118,000 after purchasing an additional 547 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Stock Performance

Associated Banc stock traded up $1.2840 during mid-day trading on Friday, hitting $26.4940. 1,544,087 shares of the company's stock traded hands, compared to its average volume of 1,430,906. The firm has a 50 day moving average price of $24.86 and a 200 day moving average price of $23.49. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.39 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 1.02 and a beta of 0.84. 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 announced its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The firm had revenue of $366.98 million for 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 quarter in the previous year, the business earned $0.52 EPS. On average, equities analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc's payout ratio is currently 119.48%.

Analyst Upgrades and Downgrades

ASB has been the topic of several recent research reports. Truist Financial raised their price target on Associated Banc from $26.00 to $27.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price target on Associated Banc from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Barclays raised their price target on Associated Banc from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Robert W. Baird raised their price target on Associated Banc from $27.00 to $28.00 and gave the stock 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 stock a "neutral" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.