State of Alaska Department of Revenue Buys 1,170 Shares of Associated Banc-Corp (NYSE:ASB)

State of Alaska Department of Revenue raised its stake in Associated Banc-Corp (NYSE:ASB) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,220 shares of the bank’s stock after acquiring an additional 1,170 shares during the period. State of Alaska Department of Revenue’s holdings in Associated Banc were worth $370,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its position 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 in the last quarter. Quest Partners LLC acquired a new position in shares of Associated Banc in the 2nd quarter worth approximately $38,000. Meeder Asset Management Inc. acquired a new position in shares of Associated Banc in the 1st quarter worth approximately $74,000. Neo Ivy Capital Management bought a new stake in Associated Banc during the 2nd quarter worth approximately $93,000. Finally, nVerses Capital LLC acquired a new stake in Associated Banc during the 2nd quarter valued at $140,000. 82.98% of the stock is currently owned by institutional investors.

Insider Activity at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares in the company, valued at $2,222,406.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,641 shares of company stock valued at $1,481,496. 1.45% of the stock is owned by insiders.

Analyst Ratings Changes

ASB has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Barclays boosted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.89.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $26.77 on Friday. The stock’s fifty day simple moving average is $22.31 and its 200 day simple moving average is $21.76. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $4.05 billion, a PE ratio of 22.30, a PEG ratio of 1.79 and a beta of 0.91. Associated Banc-Corp has a 12 month low of $16.59 and a 12 month high of $28.17.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same quarter last year, the business posted $0.53 EPS. On average, research analysts predict that Associated Banc-Corp will post 2.1 EPS for the current year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.23 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. Associated Banc’s dividend payout ratio (DPR) is presently 73.33%.

Associated Banc Company 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.