Associated Banc-Corp (NYSE:ASB) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 14.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,296 shares of the bank’s stock after buying an additional 4,799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Associated Banc were worth $891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ASB. Thrivent Financial for Lutherans increased its stake in shares of Associated Banc by 221.6% during the third quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock worth $3,511,000 after purchasing an additional 112,323 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Associated Banc in the 4th quarter worth approximately $353,000. State Street Corp lifted its holdings in shares of Associated Banc by 3.3% in the 3rd 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 during the last quarter. Harbor Capital Advisors Inc. increased its stake in Associated Banc by 11,595.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank’s stock worth $1,825,000 after buying an additional 75,717 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Associated Banc by 315.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock worth $12,907,000 after buying an additional 410,118 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Trading Down 0.2 %

Shares of ASB stock opened at $22.79 on Friday. Associated Banc-Corp has a 12 month low of $19.76 and a 12 month high of $28.18. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $24.23 and its two-hundred day moving average is $23.96. The company has a market cap of $3.79 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Equities analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.04%. Associated Banc’s payout ratio is 116.46%.

Insider Buying and Selling

In related news, Director Eileen A. Kamerick sold 7,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now directly owns 49,495 shares of the company’s stock, valued at $1,223,021.45. This trade represents a 12.39 % 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 hyperlink. Also, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now directly owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Analyst Ratings Changes

ASB has been the topic of several research analyst reports. Piper Sandler lifted their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Stephens restated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a research report on Friday, January 24th. Barclays lifted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.11.

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.