Associated Banc-Corp $ASB Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in Associated Banc-Corp (NYSE:ASB) by 25.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,291 shares of the bank’s stock after selling 448 shares during the period. Fifth Third Bancorp’s holdings in Associated Banc were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ASB. Mackenzie Financial Corp acquired a new position in shares of Associated Banc in the 4th quarter valued at $221,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Associated Banc by 16.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,652 shares of the bank’s stock valued at $541,000 after purchasing an additional 3,191 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of 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 purchasing an additional 1,280 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Associated Banc by 111,480.0% in the 1st quarter. NBC Securities Inc. now owns 5,579 shares of the bank’s stock valued at $125,000 after purchasing an additional 5,574 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Associated Banc by 3.7% in the 1st quarter. UMB Bank n.a. now owns 16,787 shares of the bank’s stock valued at $378,000 after purchasing an additional 605 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have recently commented on ASB shares. Barclays upped their price target on Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods upped their price target on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Robert W. Baird increased their target price on Associated Banc from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Truist Financial increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company increased their target price on Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.78.

Associated Banc Price Performance

Shares of NYSE ASB opened at $25.96 on Friday. The stock’s 50-day moving average is $25.67 and its two-hundred day moving average is $23.98. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.82.

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

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a yield of 3.5%. Associated Banc’s dividend payout ratio is 119.48%.

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.