14,775 Shares in Associated Banc-Corp (NYSE:ASB) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 14,775 shares of the bank’s stock, valued at approximately $353,000.

A number of other large investors have also added to or reduced their stakes in ASB. State Street Corp raised its position in Associated Banc by 3.3% during the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock valued at $177,282,000 after purchasing an additional 261,877 shares during the last quarter. Geode Capital Management LLC raised its stake in Associated Banc by 2.3% in the third quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock worth $77,219,000 after buying an additional 79,658 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Associated Banc by 11.2% in the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock valued at $65,401,000 after purchasing an additional 305,133 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Associated Banc by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank’s stock valued at $53,738,000 after purchasing an additional 111,310 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Associated Banc by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,761,584 shares of the bank’s stock worth $42,102,000 after purchasing an additional 31,956 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling at Associated Banc

In related news, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the transaction, the director now directly owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the sale, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. The trade was a 12.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Associated Banc Stock Down 0.5 %

ASB stock opened at $23.09 on Wednesday. The business’s 50-day moving average price is $24.17 and its 200-day moving average price is $24.00. The stock has a market cap of $3.82 billion, a P/E ratio of 29.23, a PEG ratio of 1.52 and a beta of 0.90. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, equities research analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 116.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASB. Piper Sandler lifted their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays lifted their target price on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Robert W. Baird cut their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.11.

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.