Associated Banc-Corp (NYSE:ASB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in Associated Banc-Corp (NYSE:ASB) by 26.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,185 shares of the bank’s stock after selling 24,136 shares during the quarter. Wellington Management Group LLP’s holdings in Associated Banc were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ASB. Creekmur Asset Management LLC bought a new stake in shares of Associated Banc in the 4th quarter worth approximately $28,000. Parallel Advisors LLC increased its holdings 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 valued at $49,000 after buying an additional 894 shares in the last quarter. Quadrant Capital Group LLC increased its holdings 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 valued at $61,000 after buying an additional 1,850 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Associated Banc during the 4th quarter valued at $84,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Associated Banc during the 4th quarter worth $92,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Down 1.5 %

ASB stock opened at $20.84 on Tuesday. The company has a 50 day moving average of $21.16 and a two-hundred day moving average of $21.01. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.20 and a beta of 0.95. Associated Banc-Corp has a 12-month low of $15.16 and a 12-month high of $22.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB) last announced 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 return on equity of 8.31% and a net margin of 6.86%. The business had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same period last year, the company earned $0.66 earnings per share. Associated Banc’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 4.22%. Associated Banc’s dividend payout ratio is currently 88.89%.

Insider Activity at Associated Banc

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ASB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a report on Friday, April 26th. Wells Fargo & Company boosted their price target on shares of Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Barclays decreased their price objective on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.