Allspring Global Investments Holdings LLC Sells 11,640 Shares of Associated Banc-Corp (NYSE:ASB)

Allspring Global Investments Holdings LLC lessened its holdings in Associated Banc-Corp (NYSE:ASB) by 0.4% during the third quarter, HoldingsChannel.com reports. The fund owned 2,636,629 shares of the bank’s stock after selling 11,640 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Associated Banc were worth $56,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its position in Associated Banc by 4.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after acquiring an additional 525 shares during the last quarter. Arizona State Retirement System grew its position in Associated Banc by 1.4% in the second quarter. Arizona State Retirement System now owns 42,068 shares of the bank’s stock valued at $890,000 after acquiring an additional 586 shares during the last quarter. Truist Financial Corp grew its position in Associated Banc by 2.4% in the second quarter. Truist Financial Corp now owns 27,082 shares of the bank’s stock valued at $573,000 after acquiring an additional 636 shares during the last quarter. Retirement Systems of Alabama grew its position in Associated Banc by 0.3% in the first quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after acquiring an additional 651 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Associated Banc by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 656 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction that occurred 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 directly owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,835 shares of company stock valued at $757,214. 1.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ASB has been the topic of a number of recent research reports. Baird R W lowered Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their price target on Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Jefferies Financial Group cut their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.78.

Associated Banc Price Performance

Associated Banc stock opened at $22.06 on Tuesday. The stock’s 50 day moving average is $21.65 and its 200 day moving average is $21.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $3.33 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.66 and a beta of 0.93. Associated Banc-Corp has a one year low of $15.20 and a one year high of $24.21.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. As a group, research analysts expect that Associated Banc-Corp will post 2.06 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

About Associated Banc

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.