Nisa Investment Advisors LLC Increases Holdings in Associated Banc-Corp (NYSE:ASB)

Nisa Investment Advisors LLC lifted its holdings in Associated Banc-Corp (NYSE:ASB) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 33,737 shares of the bank’s stock after acquiring an additional 1,446 shares during the period. Nisa Investment Advisors LLC’s holdings in Associated Banc were worth $722,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. purchased a new position in shares of Associated Banc in the third quarter worth $29,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Associated Banc in the fourth quarter worth $47,000. Quarry LP raised its stake in shares of Associated Banc by 319.6% in the first quarter. Quarry LP now owns 2,140 shares of the bank’s stock worth $38,000 after purchasing an additional 1,630 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Associated Banc in the first quarter worth $91,000. Finally, BKM Wealth Management LLC purchased a new position in shares of Associated Banc in the fourth quarter worth $92,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Insider Activity

In other news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at $1,905,456. The disclosure for this sale can be found here. Insiders sold 21,710 shares of company stock valued at $454,897 in the last ninety days. Insiders own 1.45% of the company’s stock.

Associated Banc Stock Performance

NYSE:ASB opened at $19.90 on Wednesday. The firm has a market capitalization of $3.00 billion, a PE ratio of 17.61, a P/E/G ratio of 1.19 and a beta of 1.00. The stock has a 50-day simple moving average of $20.70 and a two-hundred day simple moving average of $19.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88. Associated Banc-Corp has a 52-week low of $14.47 and a 52-week high of $22.16.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $322.22 million during the quarter, compared to analyst estimates of $325.89 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. Analysts forecast that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, February 29th. Associated Banc’s payout ratio is 77.88%.

Wall Street Analysts Forecast Growth

ASB has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. Piper Sandler upped their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Barclays initiated coverage on Associated Banc in a research report on Friday, March 8th. They set an “equal weight” rating and a $22.00 price objective for the company. Wells Fargo & Company upped their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Raymond James upped their price objective on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Associated Banc currently has an average rating of “Hold” and a consensus price target of $22.63.

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.