Associated Banc-Corp (NYSE:ASB) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd decreased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 36.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,523 shares of the bank’s stock after selling 5,500 shares during the quarter. Quadrature Capital Ltd’s holdings in Associated Banc were worth $204,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in shares of Associated Banc in the fourth quarter worth $28,000. Parallel Advisors LLC increased its stake in shares of Associated Banc by 64.0% in the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after acquiring an additional 894 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Associated Banc by 183.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after acquiring an additional 1,850 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Associated Banc in the fourth quarter worth $84,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Associated Banc in the fourth quarter worth $92,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Price Performance

Associated Banc stock opened at $20.30 on Friday. Associated Banc-Corp has a 12-month low of $15.16 and a 12-month high of $22.77. The stock has a market cap of $3.06 billion, a P/E ratio of 20.51, a PEG ratio of 2.10 and a beta of 0.96. The company has a 50-day moving average price of $21.15 and a 200 day moving average price of $20.99. 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) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) 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 analysts’ expectations of $325.00 million. During the same period last year, the business earned $0.66 earnings per share. Associated Banc’s revenue was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Associated Banc-Corp will post 2.11 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, June 3rd. Associated Banc’s payout ratio is currently 88.89%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 2,500 shares of Associated Banc stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $22.18, for a total transaction of $55,450.00. Following the completion of the sale, the executive vice president now directly owns 100,922 shares in the company, valued at $2,238,449.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Associated Banc news, EVP John A. Utz sold 2,500 shares of Associated Banc stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $22.18, for a total transaction of $55,450.00. Following the completion of the sale, the executive vice president now directly owns 100,922 shares in the company, valued at $2,238,449.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the sale, the executive vice president now owns 37,993 shares of the company’s stock, valued at $806,591.39. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ASB. Barclays lowered their price target on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday. Wells Fargo & Company increased their price target on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Stephens reissued an “equal weight” rating and set a $23.00 price target on shares of Associated Banc in a report on Friday, April 26th. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.88.

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.