iSAM Funds UK Ltd Sells 6,945 Shares of Associated Banc-Corp (NYSE:ASB)

iSAM Funds UK Ltd trimmed its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,297 shares of the bank’s stock after selling 6,945 shares during the quarter. iSAM Funds UK Ltd’s holdings in Associated Banc were worth $351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Associated Banc by 30.6% in the second quarter. CWM LLC now owns 7,084 shares of the bank’s stock worth $150,000 after purchasing an additional 1,661 shares during the last quarter. M&G Plc boosted its holdings in Associated Banc by 12.4% in the second quarter. M&G Plc now owns 411,761 shares of the bank’s stock valued at $8,647,000 after acquiring an additional 45,542 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Associated Banc by 14.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 55,365 shares of the bank’s stock valued at $1,171,000 after purchasing an additional 6,852 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Associated Banc by 31.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 28,530 shares of the bank’s stock worth $603,000 after purchasing an additional 6,768 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Associated Banc by 54.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank’s stock worth $735,000 after purchasing an additional 12,296 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASB has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $28.00 target price on shares of Associated Banc in a report on Thursday. Barclays lifted their price objective on shares of Associated Banc from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.89.

Associated Banc Stock Down 0.2 %

Associated Banc stock opened at $26.01 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $3.93 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.88 and a beta of 0.93. Associated Banc-Corp has a fifty-two week low of $18.96 and a fifty-two week high of $28.18. The firm’s 50-day simple moving average is $24.38 and its 200 day simple moving average is $22.43.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period in the prior year, the company posted $0.53 earnings per share. Research analysts predict that Associated Banc-Corp will post 2.13 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend 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 3.54%. Associated Banc’s dividend payout ratio (DPR) is currently 76.67%.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,641 shares of company stock worth $1,435,936 in the last ninety days. Company insiders own 1.45% of the company’s stock.

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.