Yousif Capital Management LLC Sells 870 Shares of Associated Banc-Corp (NYSE:ASB)

Yousif Capital Management LLC lessened its holdings in Associated Banc-Corp (NYSE:ASB) by 1.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,057 shares of the bank’s stock after selling 870 shares during the period. Yousif Capital Management LLC’s holdings in Associated Banc were worth $1,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ASB. Louisiana State Employees Retirement System bought a new stake in Associated Banc during the 4th quarter worth approximately $892,000. Walleye Capital LLC bought a new position in shares of Associated Banc during the 3rd quarter valued at approximately $7,561,000. AQR Capital Management LLC lifted its position in Associated Banc by 92.2% in the third quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock worth $24,524,000 after buying an additional 687,552 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Associated Banc by 7.7% in the 3rd quarter. Deutsche Bank AG now owns 123,392 shares of the bank’s stock worth $2,111,000 after acquiring an additional 8,836 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Associated Banc by 2,344.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock worth $12,134,000 after purchasing an additional 680,161 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Up 1.4 %

Associated Banc stock opened at $21.87 on Friday. The business’s 50-day simple moving average is $20.84 and its two-hundred day simple moving average is $19.91. The company has a market cap of $3.29 billion, a PE ratio of 22.09, a PEG ratio of 1.25 and a beta of 0.99. Associated Banc-Corp has a fifty-two week low of $14.47 and a fifty-two week high of $22.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86.

Associated Banc (NYSE:ASB) last posted its earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The company had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts anticipate that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.88 annualized dividend and a yield of 4.02%. Associated Banc’s dividend payout ratio is presently 88.89%.

Analyst Ratings Changes

A number of research firms recently issued reports on ASB. Piper Sandler boosted their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Barclays upped their target price on Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Raymond James raised 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $23.13.

Insider Activity

In related news, EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total value of $106,553.37. Following the sale, the executive vice president now owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total value of $106,553.37. Following the sale, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at $806,591.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $297,012.00. Following the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The disclosure for this sale can be found here. Insiders have sold 26,729 shares of company stock worth $561,450 in the last ninety days. Company insiders own 1.45% of the company’s stock.

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.