A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in shares of Associated Banc by 6.6% in the fourth quarter. State of Alaska Department of Revenue now owns 18,355 shares of the bank’s stock valued at $438,000 after acquiring an additional 1,135 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Associated Banc by 8.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 44,700 shares of the bank’s stock valued at $1,068,000 after acquiring an additional 3,500 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Associated Banc by 6.9% in the fourth quarter. Rhumbline Advisers now owns 539,766 shares of the bank’s stock valued at $12,900,000 after acquiring an additional 34,919 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Associated Banc by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 369,548 shares of the bank’s stock valued at $8,832,000 after acquiring an additional 24,876 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Associated Banc by 33.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 42,217 shares of the bank’s stock valued at $1,009,000 after acquiring an additional 10,583 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Shares of ASB stock opened at $22.79 on Friday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $22.41 and its two-hundred day simple moving average is $23.51. The company has a market cap of $3.78 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79.

Associated Banc (NYSE:ASB – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. The business had revenue of $348.97 million for the quarter, compared to the consensus estimate of $347.86 million. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 4.04%. Associated Banc’s dividend payout ratio (DPR) is presently 106.98%.

In related news, CEO Andrew J. Harmening acquired 12,910 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the transaction, the chief executive officer now directly owns 319,269 shares in the company, valued at approximately $7,423,004.25. This trade represents a 4.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.45% of the company’s stock.

Several brokerages have recently commented on ASB. Stephens lowered their price objective on Associated Banc from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Truist Financial began coverage on Associated Banc in a research note on Tuesday, May 13th. They set a “hold” rating and a $26.00 price target for the company. Wells Fargo & Company raised Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $27.00 to $26.00 in a research note on Wednesday, April 9th. Barclays dropped their price target on Associated Banc from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods dropped their price target on Associated Banc from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

View Our Latest Research Report on Associated Banc

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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.

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