GTS Securities LLC Makes New $328,000 Investment in Associated Banc-Corp (NYSE:ASB)

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Associated Banc by 8.7% during the 4th quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock valued at $431,798,000 after purchasing an additional 1,444,068 shares during the last quarter. FMR LLC increased its position in Associated Banc by 9.4% during the 4th quarter. FMR LLC now owns 14,838,422 shares of the bank's stock valued at $354,638,000 after buying an additional 1,272,441 shares in the last quarter. Geode Capital Management LLC raised its stake in Associated Banc by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank's stock valued at $92,026,000 after buying an additional 265,378 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Associated Banc by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock worth $53,738,000 after acquiring an additional 111,310 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Associated Banc by 19.9% in the fourth quarter. Northern Trust Corp now owns 2,182,882 shares of the bank's stock worth $52,171,000 after acquiring an additional 362,267 shares in the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Performance

NYSE ASB traded down $0.17 on Monday, reaching $23.00. 1,134,847 shares of the company's stock traded hands, compared to its average volume of 1,544,252. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 1.52 and a beta of 0.79. The stock has a 50 day moving average price of $21.99 and a 200-day moving average price of $23.70.

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

Associated Banc Announces Dividend

The business also recently declared 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. This represents a $0.92 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, June 2nd. Associated Banc's payout ratio is presently 106.98%.

Insider Buying and Selling at Associated Banc

In other news, CEO Andrew J. Harmening acquired 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 acquisition, the chief executive officer now owns 319,269 shares of the company's stock, valued at approximately $7,423,004.25. This represents a 4.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $27.00 to $26.00 in a report on Wednesday, April 9th. Stephens cut their price target 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. Truist Financial assumed coverage on shares of Associated Banc in a report on Tuesday, May 13th. They issued a "hold" rating and a $26.00 price target for the company. Barclays dropped 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 report on Tuesday, April 8th. Finally, Raymond James restated an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $26.00.

Associated Banc Company 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.