US Bancorp DE Lowers Position in Associated Banc-Corp (NYSE:ASB)

US Bancorp DE decreased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 2.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 79,800 shares of the bank’s stock after selling 1,895 shares during the period. US Bancorp DE’s holdings in Associated Banc were worth $1,719,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. LSV Asset Management lifted its stake in Associated Banc by 43.3% during the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after acquiring an additional 1,224,216 shares in the last quarter. Millennium Management LLC lifted its position in shares of Associated Banc by 291.3% during the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after purchasing an additional 1,163,807 shares in the last quarter. M&G Plc purchased a new position in Associated Banc during the first quarter worth about $8,057,000. Point72 Asset Management L.P. grew its position in Associated Banc by 12.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock worth $24,309,000 after purchasing an additional 123,271 shares in the last quarter. Finally, Interval Partners LP increased its stake in Associated Banc by 27.6% in the 2nd quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock valued at $9,368,000 after buying an additional 95,928 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John A. Utz sold 2,000 shares of the company’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 transaction, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,105 shares of company stock valued at $671,324. 1.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ASB. Keefe, Bruyette & Woods upped their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Barclays increased their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Baird R W lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Associated Banc presently has a consensus rating of “Hold” and a consensus price target of $23.89.

Associated Banc Price Performance

Associated Banc stock opened at $28.15 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. Associated Banc-Corp has a one year low of $16.59 and a one year high of $28.17. The firm has a market capitalization of $4.26 billion, a P/E ratio of 23.46, a PEG ratio of 1.82 and a beta of 0.91. The business has a fifty day moving average price of $22.15 and a 200-day moving average price of $21.69.

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

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Monday, December 2nd. Associated Banc’s payout ratio is 76.67%.

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.