Associated Banc-Corp (NYSE:ASB) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Associated Banc-Corp (NYSE:ASB) by 3.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 40,043 shares of the bank’s stock after selling 1,248 shares during the quarter. Corient Private Wealth LLC’s holdings in Associated Banc were worth $957,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ASB. Intech Investment Management LLC raised its holdings in shares of Associated Banc by 117.6% during the third quarter. Intech Investment Management LLC now owns 42,697 shares of the bank’s stock valued at $920,000 after acquiring an additional 23,076 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Associated Banc by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock valued at $46,034,000 after purchasing an additional 17,425 shares during the last quarter. Citigroup Inc. lifted its holdings in Associated Banc by 6.4% in the 3rd quarter. Citigroup Inc. now owns 296,155 shares of the bank’s stock valued at $6,379,000 after purchasing an additional 17,699 shares in the last quarter. Cerity Partners LLC boosted its stake in Associated Banc by 62.7% during the 3rd quarter. Cerity Partners LLC now owns 19,636 shares of the bank’s stock worth $423,000 after purchasing an additional 7,567 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Associated Banc by 7.6% during the third quarter. Algert Global LLC now owns 61,713 shares of the bank’s stock worth $1,329,000 after buying an additional 4,370 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Associated Banc

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

Analysts Set New Price Targets

ASB has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Barclays boosted 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. Robert W. Baird cut their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Royal Bank of Canada upped their target price on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Finally, Piper Sandler lifted their price target on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.11.

Associated Banc Stock Down 0.6 %

Shares of ASB opened at $22.75 on Friday. The company’s 50-day moving average price is $24.07 and its 200 day moving average price is $23.98. Associated Banc-Corp has a 12-month low of $19.76 and a 12-month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.77 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) 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, sell-side analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is 116.46%.

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.