Bank of New York Mellon Corp Sells 40,981 Shares of Associated Banc-Corp (NYSE:ASB)

Posted by Defense World Staff on Mar 12th, 2023

Bank of New York Mellon Corp decreased its stake in Associated Banc-Corp (NYSE:ASB – Get Rating) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,151,641 shares of the bank’s stock after selling 40,981 shares during the period. Bank of New York Mellon Corp owned about 1.43% of Associated Banc worth $43,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ASB. Cambridge Investment Research Advisors Inc. lifted its stake in Associated Banc by 62.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,246 shares of the bank’s stock valued at $347,000 after purchasing an additional 5,846 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Associated Banc by 11.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,451 shares of the bank’s stock valued at $192,000 after purchasing an additional 884 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Associated Banc in the 1st quarter valued at approximately $91,000. Acadian Asset Management LLC acquired a new position in Associated Banc in the 1st quarter valued at approximately $262,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Associated Banc by 10.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,829 shares of the bank’s stock valued at $1,248,000 after acquiring an additional 5,073 shares during the period. Institutional investors own 78.95% of the company’s stock.

Insider Buying and Selling at Associated Banc

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

Associated Banc Trading Down 0.7 %

Shares of NYSE ASB opened at $20.44 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.95 and a current ratio of 0.95. Associated Banc-Corp has a 52-week low of $17.45 and a 52-week high of $25.50. The firm has a 50 day moving average price of $22.99 and a two-hundred day moving average price of $22.53. The stock has a market cap of $3.08 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 1.04 and a beta of 1.01.

Associated Banc (NYSE:ASB – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Associated Banc had a net margin of 25.65% and a return on equity of 9.70%. The firm had revenue of $452.94 million during the quarter, compared to analysts’ expectations of $347.92 million. During the same period in the prior year, the company posted $0.49 EPS. As a group, equities analysts forecast that Associated Banc-Corp will post 2.47 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.11%. The ex-dividend date is Tuesday, February 28th. Associated Banc’s dividend payout ratio (DPR) is currently 35.74%.

Associated Banc Company Profile

(Get Rating)

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.