Shell Asset Management Co. lessened its holdings in shares of Associated Banc-Corp (NYSE:ASB – Get Rating) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,282 shares of the bank’s stock after selling 4,667 shares during the period. Shell Asset Management Co.’s holdings in Associated Banc were worth $538,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Guardian Wealth Advisors LLC bought a new stake in shares of Associated Banc in the third quarter valued at approximately $26,000. Quadrant Capital Group LLC lifted its position in shares of Associated Banc by 94.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,779 shares of the bank’s stock valued at $36,000 after acquiring an additional 862 shares during the period. Allworth Financial LP lifted its position in shares of Associated Banc by 26,450.0% during the 4th quarter. Allworth Financial LP now owns 1,593 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,587 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Associated Banc by 74.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,685 shares of the bank’s stock worth $39,000 after purchasing an additional 718 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of Associated Banc in the fourth quarter worth $73,000. Institutional investors and hedge funds own 78.95% of the company’s stock.
Associated Banc Stock Down 5.3 %
Shares of NYSE:ASB opened at $15.14 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.96 and a current ratio of 0.97. Associated Banc-Corp has a 52-week low of $14.65 and a 52-week high of $25.50. The company has a market capitalization of $2.28 billion, a PE ratio of 5.96, a price-to-earnings-growth ratio of 0.94 and a beta of 0.98. The company has a fifty day moving average of $18.91 and a 200-day moving average of $21.78.
Associated Banc Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Wednesday, May 31st. Associated Banc’s payout ratio is 33.07%.
Insider Buying and Selling at Associated Banc
In other news, Director John B. Williams sold 1,840 shares of Associated Banc 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 transaction, the director now owns 57,576 shares in the company, valued at $1,378,945.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John B. Williams sold 1,840 shares of the firm’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $23.95, for a total transaction of $44,068.00. Following the completion of the transaction, the director now directly owns 57,576 shares of the company’s stock, valued at approximately $1,378,945.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lith Karen Van sold 4,889 shares of Associated Banc stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $23.93, for a total value of $116,993.77. Following the transaction, the director now directly owns 58,677 shares in the company, valued at $1,404,140.61. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 13,600 shares of company stock worth $247,737. 1.49% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ASB shares. StockNews.com cut shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, April 14th. UBS Group started coverage on shares of Associated Banc in a research report on Wednesday, March 15th. They set a “neutral” rating and a $22.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $21.00 price objective on shares of Associated Banc in a research report on Friday, April 21st. Wells Fargo & Company reduced their target price on Associated Banc from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods lowered their price target on Associated Banc from $26.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Associated Banc has an average rating of “Hold” and an average price target of $22.29.
Associated Banc Profile
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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