Associated Banc-Corp (NYSE:ASB) Stake Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its stake in shares of Associated Banc-Corp (NYSE:ASB) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,200 shares of the bank’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Associated Banc were worth $887,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new stake in Associated Banc in the first quarter valued at $866,000. State Board of Administration of Florida Retirement System lifted its position in Associated Banc by 71.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock valued at $1,591,000 after purchasing an additional 30,732 shares during the last quarter. M&G Plc boosted its stake in Associated Banc by 12.4% during the 2nd quarter. M&G Plc now owns 411,761 shares of the bank’s stock valued at $8,647,000 after purchasing an additional 45,542 shares during the period. Bayesian Capital Management LP bought a new position in Associated Banc in the 1st quarter worth about $609,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Associated Banc in the first quarter valued at approximately $523,000. 82.98% of the stock is currently owned by institutional investors.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was 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 in the company, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the transaction, the director now owns 54,114 shares in the company, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,105 shares of company stock valued at $671,324 over the last three months. Company insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ASB shares. Royal Bank of Canada increased their price objective on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird decreased their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens reiterated an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research report on Tuesday, July 30th. Finally, Piper Sandler boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.89.

Associated Banc Price Performance

Shares of NYSE ASB opened at $23.56 on Monday. Associated Banc-Corp has a twelve month low of $16.19 and a twelve month high of $24.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $21.99 and a two-hundred day moving average of $21.58. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.83 and a beta of 0.91.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, analysts expect that Associated Banc-Corp will post 2.08 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.90%. Associated Banc’s dividend payout ratio (DPR) is currently 73.33%.

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.