South Dakota Investment Council Cuts Position in Associated Banc-Corp (NYSE:ASB)

South Dakota Investment Council trimmed its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 239,753 shares of the bank's stock after selling 40,225 shares during the period. South Dakota Investment Council owned about 0.16% of Associated Banc worth $5,128,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in shares of Associated Banc by 64.0% during the third quarter. SG Americas Securities LLC now owns 90,428 shares of the bank's stock valued at $1,547,000 after acquiring an additional 35,279 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of Associated Banc by 21.4% during the third quarter. Hennessy Advisors Inc. now owns 170,000 shares of the bank's stock valued at $2,909,000 after acquiring an additional 30,000 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Associated Banc by 10.9% during the third quarter. Commonwealth Equity Services LLC now owns 35,226 shares of the bank's stock valued at $603,000 after acquiring an additional 3,451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Associated Banc by 15.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,284 shares of the bank's stock valued at $518,000 after acquiring an additional 3,947 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Associated Banc by 14.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,227 shares of the bank's stock valued at $1,270,000 after acquiring an additional 9,363 shares during the period. 82.98% of the stock is currently owned by institutional investors.

Insider Transactions at Associated Banc

In other news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the transaction, the director now directly owns 62,876 shares in the company, valued at approximately $1,229,225.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of Associated Banc stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares of the company's stock, valued at approximately $1,053,648.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the transaction, the director now directly owns 62,876 shares of the company's stock, valued at $1,229,225.80. The disclosure for this sale can be found here. In the last three months, insiders sold 21,710 shares of company stock worth $454,897. 1.45% of the stock is owned by company insiders.

Associated Banc Stock Up 0.4 %

ASB stock traded up $0.09 during mid-day trading on Wednesday, reaching $21.36. The company had a trading volume of 1,890,142 shares, compared to its average volume of 1,427,612. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $20.75 and a two-hundred day simple moving average of $19.72. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.23 and a beta of 1.00. Associated Banc-Corp has a 52 week low of $14.47 and a 52 week high of $22.16.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. The firm had revenue of $322.22 million during the quarter, compared to the consensus estimate of $325.89 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. As a group, equities analysts predict that Associated Banc-Corp will post 2.13 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.88 annualized dividend and a dividend yield of 4.12%. Associated Banc's dividend payout ratio is currently 77.88%.

Analyst Upgrades and Downgrades

ASB has been the topic of several analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $23.00 target price on shares of Associated Banc in a research note on Tuesday, April 9th. Piper Sandler increased their target price on Associated Banc from $21.50 to $23.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. Barclays initiated coverage on Associated Banc in a research note on Friday, March 8th. They issued an "equal weight" rating and a $22.00 target price on the stock. Raymond James increased their target price on Associated Banc from $21.00 to $25.00 and gave the company an "outperform" rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company raised their price target on Associated Banc from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Associated Banc has an average rating of "Hold" and a consensus price target of $22.63.

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.