Associated Banc-Corp (NYSE:ASB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572,569 shares of the bank's stock after selling 109,381 shares during the period. Victory Capital Management Inc. owned approximately 0.38% of Associated Banc worth $12,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASB. Louisiana State Employees Retirement System purchased a new position in shares of Associated Banc in the fourth quarter worth about $892,000. Walleye Capital LLC acquired a new stake in Associated Banc during the 3rd quarter valued at approximately $7,561,000. AQR Capital Management LLC boosted its holdings in shares of Associated Banc by 92.2% in the 3rd quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank's stock valued at $24,524,000 after acquiring an additional 687,552 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Associated Banc by 7.7% in the third quarter. Deutsche Bank AG now owns 123,392 shares of the bank's stock worth $2,111,000 after acquiring an additional 8,836 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Associated Banc by 2,344.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank's stock worth $12,134,000 after acquiring an additional 680,161 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Price Performance

ASB traded down $0.03 during midday trading on Friday, hitting $22.33. 1,232,963 shares of the company traded hands, compared to its average volume of 1,330,290. The business has a 50 day simple moving average of $21.05 and a two-hundred day simple moving average of $20.24. Associated Banc-Corp has a 52-week low of $14.47 and a 52-week high of $22.57. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.32 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The firm had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The company's revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, May 31st. Associated Banc's dividend payout ratio is currently 88.89%.

Insider Buying and Selling at Associated Banc

In other news, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 50,126 shares of the company's stock, valued at $1,053,648.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total value of $106,553.37. Following the transaction, the executive vice president now owns 37,993 shares in the company, valued at approximately $806,591.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,529 shares of company stock worth $564,115. Corporate insiders own 1.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased 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. Piper Sandler upped their price objective on Associated Banc from $21.50 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, January 26th. Stephens reaffirmed an "equal weight" rating and set a $23.00 target price on shares of Associated Banc in a report on Friday, April 26th. Royal Bank of Canada restated a "sector perform" rating and set a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Finally, Barclays upped their price objective on shares of Associated Banc from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Associated Banc currently has a consensus rating of "Hold" and a consensus target price of $23.13.

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.