Associated Banc-Corp (NYSE:ASB) Stock Holdings Decreased by First Hawaiian Bank

First Hawaiian Bank lowered its stake in Associated Banc-Corp (NYSE:ASB) by 13.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,560 shares of the bank’s stock after selling 3,579 shares during the period. First Hawaiian Bank’s holdings in Associated Banc were worth $563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ASB. Quest Partners LLC bought a new stake in shares of Associated Banc in the 2nd quarter worth about $38,000. Point72 DIFC Ltd acquired a new position in shares of Associated Banc in the 3rd quarter valued at about $39,000. Farther Finance Advisors LLC boosted its holdings in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after buying an additional 1,438 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Associated Banc by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after buying an additional 455 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Associated Banc by 138.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock valued at $174,000 after buying an additional 4,775 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In related news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the sale, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 15.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Associated Banc Trading Down 2.8 %

Shares of NYSE:ASB opened at $23.26 on Friday. The company has a 50 day moving average of $25.50 and a 200-day moving average of $23.07. The firm has a market cap of $3.52 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.90 and a beta of 0.94. Associated Banc-Corp has a twelve month low of $19.40 and a twelve month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period in the prior year, the business posted $0.53 EPS. As a group, analysts anticipate that Associated Banc-Corp will post 2.13 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.23 dividend. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Monday, December 2nd. Associated Banc’s dividend payout ratio is currently 76.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ASB shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 price target on shares of Associated Banc in a report on Thursday, December 5th. Barclays lifted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Piper Sandler lifted their price target on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company boosted their target price on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.00.

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.