Healthcare of Ontario Pension Plan Trust Fund Sells 113,712 Shares of Associated Banc-Corp (NYSE:ASB)

Posted by on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Associated Banc-Corp (NYSE:ASB – Get Rating) by 77.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,688 shares of the bank’s stock after selling 113,712 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Associated Banc were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ASB. Hsbc Holdings PLC purchased a new stake in shares of Associated Banc in the 3rd quarter worth $781,000. Cipher Capital LP purchased a new stake in shares of Associated Banc in the 3rd quarter worth $828,000. Interval Partners LP purchased a new stake in shares of Associated Banc in the 3rd quarter worth $6,426,000. Ontario Teachers Pension Plan Board increased its stake in Associated Banc by 26.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 41,998 shares of the bank’s stock worth $843,000 after buying an additional 8,833 shares in the last quarter. Finally, Credit Suisse AG increased its stake in Associated Banc by 0.9% in the 3rd quarter. Credit Suisse AG now owns 183,564 shares of the bank’s stock worth $3,686,000 after buying an additional 1,580 shares in the last quarter. 78.95% of the stock is owned by institutional investors.

Associated Banc Trading Down 0.7 %

Shares of ASB stock opened at $23.15 on Wednesday. Associated Banc-Corp has a 52-week low of $17.45 and a 52-week high of $25.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $3.49 billion, a PE ratio of 9.85, a PEG ratio of 1.20 and a beta of 1.02. The stock has a fifty day simple moving average of $23.09 and a two-hundred day simple moving average of $22.51.

Associated Banc (NYSE:ASB – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Associated Banc had a return on equity of 9.70% and a net margin of 25.65%. The business had revenue of $452.94 million during the quarter, compared to analyst estimates of $347.92 million. During the same quarter in the prior year, the business posted $0.49 EPS. On average, analysts predict that Associated Banc-Corp will post 2.45 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.63%. Associated Banc’s payout ratio is 35.74%.

Insider Activity

In other news, Director Lith Karen Van sold 4,889 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $23.93, for a total transaction of $116,993.77. Following the completion of the transaction, the director now owns 58,677 shares in the company, valued at $1,404,140.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Associated Banc news, Director John B. Williams sold 1,840 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $23.95, for a total value of $44,068.00. Following the completion of the sale, the director now owns 57,576 shares of the company’s stock, valued at $1,378,945.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lith Karen Van sold 4,889 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $23.93, for a total transaction of $116,993.77. Following the completion of the sale, the director now directly owns 58,677 shares of the company’s stock, valued at approximately $1,404,140.61. The disclosure for this sale can be found here. Company insiders own 3.04% of the company’s stock.

Associated Banc Company Profile

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Associated Banc-Corp. is a holding company, which engages in banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.

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Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

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