Associated Banc-Corp (NYSE:ASB) Stock Holdings Decreased by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 73.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,800 shares of the bank's stock after selling 32,200 shares during the quarter. Two Sigma Advisers LP's holdings in Associated Banc were worth $282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP grew its position in shares of Associated Banc by 154.3% during the fourth quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after buying an additional 651 shares in the last quarter. Covestor Ltd grew its holdings in Associated Banc by 221.0% during the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock worth $36,000 after acquiring an additional 1,032 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after acquiring an additional 579 shares in the last quarter. NewEdge Advisors LLC increased its position 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. Finally, Quadrant Capital Group LLC raised its stake in shares of Associated Banc by 18.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,592 shares of the bank's stock valued at $86,000 after purchasing an additional 572 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASB has been the subject of a number of research reports. Wells Fargo & Company upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $27.00 to $26.00 in a research note on Wednesday, April 9th. Barclays decreased their target price on 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. Truist Financial began coverage on Associated Banc in a research report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price target on the stock. Raymond James reiterated an "outperform" rating and set a $27.00 target price on shares of Associated Banc in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.00.

Insider Activity at Associated Banc

In other Associated Banc news, CEO Andrew J. Harmening purchased 12,910 shares of the business's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $23.25 per share, with a total value of $300,157.50. Following the acquisition, the chief executive officer now owns 319,269 shares of the company's stock, valued at $7,423,004.25. The trade was a 4.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.45% of the company's stock.

Associated Banc Stock Performance

Associated Banc stock traded up $0.40 during mid-day trading on Tuesday, hitting $24.05. 777,989 shares of the company's stock traded hands, compared to its average volume of 1,543,503. 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-Corp has a one year low of $18.32 and a one year high of $28.18. The firm has a 50 day moving average price of $22.16 and a 200 day moving average price of $23.59. The company has a market cap of $3.99 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $348.97 million during 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%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, June 2nd. Associated Banc's dividend payout ratio (DPR) is presently 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.