Trust Point Inc. Has $785,000 Holdings in Associated Banc-Corp (NYSE:ASB)

Trust Point Inc. decreased its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,828 shares of the bank's stock after selling 11,255 shares during the quarter. Trust Point Inc.'s holdings in Associated Banc were worth $785,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $36,144,000. Vanguard Group Inc. grew its position 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 worth $431,798,000 after buying an additional 1,444,068 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $353,000. FMR LLC grew its position in shares of Associated Banc by 9.4% during the 4th quarter. FMR LLC now owns 14,838,422 shares of the bank's stock worth $354,638,000 after buying an additional 1,272,441 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Associated Banc by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock worth $53,738,000 after buying an additional 111,310 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Stock Performance

Shares of ASB opened at $22.79 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The firm's 50 day moving average price is $22.41 and its two-hundred day moving average price is $23.49. The firm has a market cap of $3.78 billion, a P/E ratio of 28.85, a PEG ratio of 1.52 and a beta of 0.79.

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 for the quarter, beating 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 firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $347.86 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. On average, analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, June 2nd. Associated Banc's dividend payout ratio is presently 106.98%.

Analysts Set New Price Targets

Several brokerages have recently commented on ASB. Raymond James reiterated an "outperform" rating and set a $27.00 price target on shares of Associated Banc in a research report on Monday, April 28th. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $27.00 to $26.00 in a report on Wednesday, April 9th. Stephens decreased their price objective 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. Truist Financial began coverage on shares of Associated Banc in a report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price objective for the company. Finally, Barclays decreased 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 report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Associated Banc currently has an average rating of "Hold" and a consensus target price of $26.00.

Insider Transactions at Associated Banc

In other Associated Banc news, CEO Andrew J. Harmening acquired 12,910 shares of the business's stock in a transaction dated Friday, May 9th. The shares were acquired at an average price of $23.25 per share, with a total value of $300,157.50. Following the completion of the transaction, the chief executive officer now directly owns 319,269 shares in the company, valued at $7,423,004.25. This trade represents a 4.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.45% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.