Associated Banc-Corp $ASB Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its position in Associated Banc-Corp (NYSE:ASB) by 12.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 42,378 shares of the bank’s stock after selling 5,851 shares during the quarter. Voya Investment Management LLC’s holdings in Associated Banc were worth $955,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank’s stock valued at $36,000 after buying an additional 1,280 shares during the period. Quarry LP boosted its position in shares of Associated Banc by 77.7% during the 1st quarter. Quarry LP now owns 1,907 shares of the bank’s stock worth $43,000 after purchasing an additional 834 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Associated Banc by 17.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank’s stock worth $83,000 after purchasing an additional 559 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Associated Banc by 38.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock worth $90,000 after purchasing an additional 1,122 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Associated Banc by 11.6% during the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock worth $118,000 after purchasing an additional 547 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 13,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $27.24, for a total value of $354,120.00. Following the completion of the transaction, the executive vice president owned 111,228 shares of the company’s stock, valued at approximately $3,029,850.72. The trade was a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew R. Braeger sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares of the company’s stock, valued at $351,533.64. The trade was a 13.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,342 shares of company stock valued at $494,360. 1.45% of the stock is owned by insiders.

Associated Banc Trading Down 0.0%

Shares of ASB stock opened at $25.83 on Thursday. The firm has a 50-day moving average price of $25.65 and a 200 day moving average price of $23.79. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 0.99 and a beta of 0.84. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. The firm had revenue of $366.98 million during the quarter, compared to the consensus estimate of $362.78 million. During the same quarter in the previous year, the company posted $0.52 EPS. Research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a yield of 3.6%. Associated Banc’s payout ratio is presently 119.48%.

Wall Street Analysts Forecast Growth

ASB has been the topic of several research analyst reports. Barclays boosted their target price on shares of Associated Banc from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Robert W. Baird boosted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Piper Sandler boosted their target price on shares of Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.78.

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.