Nisa Investment Advisors LLC cut its holdings in Associated Banc-Corp (NYSE:ASB – Free Report) by 54.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,853 shares of the bank’s stock after selling 10,676 shares during the period. Nisa Investment Advisors LLC’s holdings in Associated Banc were worth $212,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Associated Banc by 3.3% during the third quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after acquiring an additional 261,877 shares in the last quarter. Geode Capital Management LLC lifted its stake in Associated Banc by 2.3% in the third quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock valued at $77,219,000 after acquiring an additional 79,658 shares during the last quarter. Verition Fund Management LLC grew its position in shares of Associated Banc by 11.2% in the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock valued at $65,401,000 after acquiring an additional 305,133 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Associated Banc by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock worth $46,034,000 after purchasing an additional 17,425 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Associated Banc by 291.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after purchasing an additional 1,163,807 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.
Associated Banc Trading Up 0.6 %
Shares of Associated Banc stock opened at $24.80 on Thursday. Associated Banc-Corp has a 12-month low of $19.40 and a 12-month high of $28.18. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $25.12 and its two-hundred day moving average price is $23.49.
Associated Banc Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.71%. Associated Banc’s payout ratio is currently 76.67%.
Insiders Place Their Bets
In other Associated Banc news, 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 directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.45% of the company’s stock.
Wall Street Analysts Forecast Growth
ASB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Stephens reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. Piper Sandler raised their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.00.
View Our Latest Analysis on Associated Banc
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.
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