Creative Planning Trims Position in Associated Banc-Corp $ASB

Creative Planning lowered its stake in shares of Associated Banc-Corp (NYSE:ASB) by 25.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,029 shares of the bank’s stock after selling 29,473 shares during the quarter. Creative Planning owned about 0.05% of Associated Banc worth $2,098,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ASB. Hantz Financial Services Inc. lifted its position in Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after acquiring an additional 1,139 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Associated Banc in the second quarter valued at approximately $34,000. Quarry LP raised its stake in shares of Associated Banc by 77.7% during the first quarter. Quarry LP now owns 1,907 shares of the bank’s stock worth $43,000 after purchasing an additional 834 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Associated Banc during the second quarter worth $49,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Associated Banc by 17.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank’s stock valued at $83,000 after buying an additional 559 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Associated Banc in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $30.00 price target (up from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Royal Bank Of Canada lifted their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Finally, Barclays dropped their target price on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.22.

Insider Buying and Selling at Associated Banc

In related news, EVP Patrick Edward Ahern sold 3,342 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.20, for a total value of $87,560.40. Following the sale, the executive vice president directly owned 41,472 shares of the company’s stock, valued at approximately $1,086,566.40. This represents a 7.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew R. Braeger sold 2,000 shares of the firm’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 transaction, the executive vice president owned 13,346 shares of the company’s stock, valued at $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 18,342 shares of company stock valued at $494,360. Insiders own 1.45% of the company’s stock.

Associated Banc Trading Up 3.3%

Shares of ASB opened at $26.42 on Wednesday. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $27.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $4.38 billion, a P/E ratio of 28.10, a PEG ratio of 0.98 and a beta of 0.84. The firm’s 50-day moving average is $25.47 and its two-hundred day moving average is $25.04.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $390.71 million for the quarter, compared to analyst estimates of $377.94 million. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.During the same quarter in the previous year, the company earned $0.56 EPS. On average, research analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.6%. Associated Banc’s dividend payout ratio (DPR) is presently 102.13%.

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.