Trust Point Inc. Sells 11,255 Shares of Associated Banc-Corp (NYSE:ASB)

Trust Point Inc. reduced its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 24.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,828 shares of the bank's stock after selling 11,255 shares during the period. Trust Point Inc.'s holdings in Associated Banc were worth $785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Associated Banc by 37.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,111 shares of the bank's stock valued at $701,000 after acquiring an additional 8,459 shares during the last quarter. Handelsbanken Fonder AB raised its position in Associated Banc by 57.1% in the 1st quarter. Handelsbanken Fonder AB now owns 42,362 shares of the bank's stock valued at $954,000 after purchasing an additional 15,400 shares during the last quarter. GAMMA Investing LLC boosted its stake in Associated Banc by 11.6% in the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock worth $118,000 after purchasing an additional 547 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Associated Banc by 34.1% in the first quarter. Harbor Capital Advisors Inc. now owns 102,423 shares of the bank's stock valued at $2,308,000 after buying an additional 26,053 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Associated Banc by 38.0% in the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock valued at $90,000 after buying an additional 1,122 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ASB shares. Barclays lowered their price objective 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. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $27.00 to $26.00 in a research report on Wednesday, April 9th. Truist Financial began coverage on Associated Banc in a report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price objective on the stock. Raymond James Financial reissued an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price target on 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.00.

Insider Transactions at Associated Banc

In related news, CEO Andrew J. Harmening acquired 12,910 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the acquisition, the chief executive officer now directly owns 319,269 shares in the company, valued at approximately $7,423,004.25. The trade was a 4.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.45% of the stock is currently owned by insiders.

Associated Banc Trading Up 1.0%

NYSE ASB traded up $0.23 during trading on Thursday, reaching $22.86. 1,093,126 shares of the stock traded hands, compared to its average volume of 1,545,610. 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 quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The stock's 50-day moving average price is $22.58 and its 200 day moving average price is $23.46.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $348.97 million during the quarter, compared to analyst estimates of $347.86 million. Associated Banc had a net margin of 6.02% and a return on equity of 8.47%. The firm's revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.92 annualized dividend and a dividend yield of 4.03%. Associated Banc's dividend payout ratio (DPR) is currently 106.98%.

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.