Burney Co. Sells 3,980 Shares of Associated Banc-Corp (NYSE:ASB)

Burney Co. trimmed its holdings in Associated Banc-Corp (NYSE:ASB) by 7.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,552 shares of the bank’s stock after selling 3,980 shares during the quarter. Burney Co.’s holdings in Associated Banc were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Quest Partners LLC bought a new position in Associated Banc in the 2nd quarter valued at about $38,000. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc in the third quarter worth approximately $39,000. Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Associated Banc by 10.7% during the fourth quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after buying an additional 455 shares during the last quarter. Finally, CWM LLC grew its holdings in Associated Banc by 21.0% during the third quarter. CWM LLC now owns 8,574 shares of the bank’s stock worth $185,000 after buying an additional 1,490 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ASB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler boosted their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Wells Fargo & Company increased their price objective on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 target price on shares of Associated Banc in a report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Insider Activity at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now owns 81,021 shares of the company’s stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the 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 sale, the executive vice president now directly owns 100,204 shares in the company, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Associated Banc Stock Performance

NYSE:ASB opened at $25.03 on Friday. The company has a market capitalization of $3.79 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.88 and a beta of 0.94. The business has a fifty day simple moving average of $25.43 and a two-hundred day simple moving average of $23.21. 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 1 year low of $19.40 and a 1 year high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.53 EPS. On average, analysts expect that Associated Banc-Corp will post 2.15 earnings per share for the current year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.68%. Associated Banc’s dividend payout ratio (DPR) is 76.67%.

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.