VIRGINIA RETIREMENT SYSTEMS ET Al Lowers Position in Associated Banc-Corp $ASB

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 43.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,600 shares of the bank’s stock after selling 22,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Associated Banc were worth $761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pallas Capital Advisors LLC bought a new position in shares of Associated Banc during the 2nd quarter valued at approximately $422,000. Meritage Portfolio Management purchased a new stake in Associated Banc during the second quarter valued at $469,000. Greenleaf Trust raised its stake in Associated Banc by 6.2% during the second quarter. Greenleaf Trust now owns 12,103 shares of the bank’s stock valued at $295,000 after purchasing an additional 704 shares in the last quarter. Pzena Investment Management LLC lifted its position in Associated Banc by 4.0% during the second quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock valued at $45,354,000 after purchasing an additional 71,676 shares during the last quarter. Finally, Leeward Investments LLC MA grew its stake in shares of Associated Banc by 39.7% in the 2nd quarter. Leeward Investments LLC MA now owns 765,504 shares of the bank’s stock worth $18,671,000 after buying an additional 217,546 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ASB shares. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays decreased their price objective 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. Raymond James Financial reiterated an “outperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Associated Banc in a research report on Tuesday, December 2nd. Finally, Truist Financial raised their price target on Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.40.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares of the company’s stock, valued at $2,900,927.22. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick Edward Ahern sold 30,489 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the sale, the executive vice president directly owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This trade represents a 55.90% 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 sold 35,951 shares of company stock worth $925,756. Company insiders own 1.10% of the company’s stock.

Associated Banc Trading Up 0.0%

ASB opened at $25.77 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50 day moving average price is $25.81 and its 200-day moving average price is $25.60. Associated Banc-Corp has a one year low of $18.32 and a one year high of $27.58. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 0.73 and a beta of 0.79.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The company had revenue of $390.71 million during the quarter, compared to analysts’ expectations 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 business earned $0.56 EPS. On average, equities analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.24 per share. This is an increase from Associated Banc’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 1st. Associated Banc’s payout ratio is presently 102.13%.

Associated Banc Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.