Xponance Inc. Sells 1,390 Shares of Associated Banc-Corp (NYSE:ASB)

Xponance Inc. lessened its position in Associated Banc-Corp (NYSE:ASB) by 6.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,119 shares of the bank’s stock after selling 1,390 shares during the period. Xponance Inc.’s holdings in Associated Banc were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ASB. Steph & Co. raised its holdings in Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after acquiring an additional 964 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after purchasing an additional 907 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of Associated Banc during the fourth quarter valued at $28,000. Quest Partners LLC purchased a new stake in shares of Associated Banc during the second quarter valued at $38,000. Finally, Parallel Advisors LLC increased its holdings in Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after buying an additional 894 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

ASB has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Associated Banc from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research 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 report on Tuesday, July 30th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Robert W. Baird reduced their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.78.

Insider Activity

In related news, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the transaction, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares in the company, valued at approximately $2,269,730.86. The disclosure for this sale can be found here. Insiders have sold 33,835 shares of company stock worth $757,214 in the last three months. Company insiders own 1.45% of the company’s stock.

Associated Banc Stock Performance

NYSE:ASB opened at $21.54 on Tuesday. The stock has a 50-day simple moving average of $21.73 and a two-hundred day simple moving average of $21.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. Associated Banc-Corp has a 52-week low of $15.16 and a 52-week high of $24.21. The firm has a market capitalization of $3.25 billion, a PE ratio of 21.76, a P/E/G ratio of 2.36 and a beta of 0.93.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The company had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. During the same period in the previous year, the company posted $0.56 EPS. The firm’s revenue was down .5% on a year-over-year basis. Analysts forecast that Associated Banc-Corp will post 2.07 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.09%. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

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.