Associated Banc-Corp (NYSE:ASB) Shares Sold by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC cut its stake in Associated Banc-Corp (NYSE:ASB) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 93,819 shares of the bank’s stock after selling 533 shares during the period. Nicolet Advisory Services LLC’s holdings in Associated Banc were worth $1,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. grew its stake in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares during the period. Quest Partners LLC acquired a new stake in Associated Banc during the second quarter worth about $38,000. Farther Finance Advisors LLC increased its stake in Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after acquiring an additional 1,438 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Associated Banc in the 2nd quarter valued at about $93,000. Finally, nVerses Capital LLC purchased a new stake in shares of Associated Banc during the 2nd quarter worth about $140,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analyst Ratings Changes

ASB has been the topic of several research reports. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Barclays upped their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Stephens reissued an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.89.

Insider Buying and Selling at Associated Banc

In other news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,641 shares of company stock worth $1,481,496 over the last quarter. 1.45% of the stock is owned by corporate insiders.

Associated Banc Stock Up 2.2 %

ASB stock opened at $27.31 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $23.27 and a 200-day simple moving average of $22.10. The company has a market capitalization of $4.13 billion, a P/E ratio of 22.76, a PEG ratio of 1.88 and a beta of 0.91. Associated Banc-Corp has a twelve month low of $17.30 and a twelve month high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period last year, the business earned $0.53 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 2.13 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.23 dividend. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, December 2nd. Associated Banc’s payout ratio is currently 76.67%.

Associated Banc Company Profile

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.