Nisa Investment Advisors LLC Lowers Holdings in Associated Banc-Corp (NYSE:ASB)

Nisa Investment Advisors LLC reduced its stake in shares of Associated Banc-Corp (NYSE:ASB) by 43.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,529 shares of the bank’s stock after selling 15,200 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Associated Banc were worth $421,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ASB. Bessemer Group Inc. grew its stake in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after purchasing an additional 907 shares during the period. Quest Partners LLC purchased a new stake in Associated Banc during the second quarter worth $38,000. Meeder Asset Management Inc. acquired a new stake in Associated Banc during the first quarter valued at $74,000. Neo Ivy Capital Management purchased a new position in Associated Banc in the second quarter valued at $93,000. Finally, nVerses Capital LLC acquired a new position in shares of Associated Banc in the second quarter worth about $140,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 19,044 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at approximately $2,423,934.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at $2,269,730.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,105 shares of company stock valued at $671,324 over the last quarter. 1.45% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Piper Sandler upped their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Stephens reissued an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Baird R W cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.89.

Associated Banc Trading Up 2.6 %

ASB opened at $23.99 on Wednesday. Associated Banc-Corp has a 1-year low of $16.59 and a 1-year high of $24.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $22.01 and its two-hundred day simple moving average is $21.62. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. During the same period in the previous year, the business posted $0.53 EPS. Analysts expect that Associated Banc-Corp will post 2.08 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.83%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. Associated Banc’s dividend payout ratio is presently 76.67%.

About Associated Banc

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.