Hsbc Holdings PLC Decreases Position in Associated Banc-Corp (NYSE:ASB)

Hsbc Holdings PLC decreased its position in Associated Banc-Corp (NYSE:ASB) by 13.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,907 shares of the bank’s stock after selling 1,694 shares during the period. Hsbc Holdings PLC’s holdings in Associated Banc were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ASB. Vanguard Personalized Indexing Management LLC lifted its position in shares of Associated Banc by 4.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after buying an additional 525 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Associated Banc by 138.5% during the second quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock valued at $174,000 after purchasing an additional 4,775 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Associated Banc by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 130,949 shares of the bank’s stock valued at $2,770,000 after purchasing an additional 774 shares during the last quarter. Quest Partners LLC bought a new position in Associated Banc during the second quarter worth about $38,000. Finally, Foundry Partners LLC increased its stake in shares of Associated Banc by 5.2% in the second quarter. Foundry Partners LLC now owns 346,423 shares of the bank’s stock worth $7,327,000 after purchasing an additional 17,251 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Insider Transactions at Associated Banc

In related news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now owns 128,680 shares in the company, valued at $2,958,353.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,835 shares of company stock valued at $757,214. Insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ASB shares. Keefe, Bruyette & Woods upped their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Jefferies Financial Group dropped their target price on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Barclays lifted their price target on Associated Banc from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their price objective on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Baird R W lowered Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Associated Banc currently has an average rating of “Hold” and a consensus target price of $23.78.

Associated Banc Price Performance

Shares of NYSE ASB opened at $21.02 on Friday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.36 and a beta of 0.93. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The stock’s 50-day simple moving average is $21.55 and its two-hundred day simple moving average is $21.33. Associated Banc-Corp has a twelve month low of $15.16 and a twelve month high of $24.21.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The company had revenue of $321.75 million for the quarter, compared to analysts’ expectations of $330.69 million. During the same period in the prior year, the business earned $0.56 earnings per share. Associated Banc’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that Associated Banc-Corp will post 2.07 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

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.