GTS Securities LLC Buys Shares of 13,729 Associated Banc-Corp (NYSE:ASB)

GTS Securities LLC bought a new position in Associated Banc-Corp (NYSE:ASB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,729 shares of the bank's stock, valued at approximately $328,000.

Several other institutional investors have also made changes to their positions in ASB. Harmony Asset Management LLC bought a new position in shares of Associated Banc during the 4th quarter worth about $335,000. Castleark Management LLC acquired a new position in Associated Banc in the fourth quarter valued at approximately $3,816,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Associated Banc by 32.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 435,634 shares of the bank's stock valued at $10,412,000 after purchasing an additional 107,328 shares in the last quarter. Voloridge Investment Management LLC increased its stake in Associated Banc by 195.2% in the fourth quarter. Voloridge Investment Management LLC now owns 538,755 shares of the bank's stock valued at $12,876,000 after purchasing an additional 356,268 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of Associated Banc in the fourth quarter valued at approximately $598,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Stock Down 0.4%

NYSE:ASB traded down $0.10 during mid-day trading on Friday, reaching $23.19. The company's stock had a trading volume of 1,035,980 shares, compared to its average volume of 1,543,238. The firm has a market capitalization of $3.85 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79. The stock has a fifty day moving average of $21.99 and a 200-day moving average of $23.77. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61.

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

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.23 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.97%. Associated Banc's payout ratio is currently 106.98%.

Insider Transactions at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 owns 49,495 shares in the company, valued at approximately $1,223,021.45. The trade was a 12.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew J. Harmening purchased 12,910 shares of the business's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $23.25 per share, with a total value of $300,157.50. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ASB shares. Raymond James reissued an "outperform" rating and issued a $27.00 price objective on shares of Associated Banc in a research report on Monday, April 28th. Stephens cut their target price on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company raised shares of Associated Banc from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $27.00 to $26.00 in a research note on Wednesday, April 9th. Truist Financial started coverage on shares of Associated Banc in a research report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price target on the stock. Finally, Barclays lowered their price objective on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.00.

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.