Associated Banc-Corp (NYSE:ASB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,158,506 shares of the bank’s stock after selling 30,201 shares during the period. Alliancebernstein L.P. owned approximately 1.43% of Associated Banc worth $51,588,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Associated Banc by 8.7% in the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank’s stock valued at $431,798,000 after purchasing an additional 1,444,068 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Associated Banc during the fourth quarter worth about $353,000. Harbor Capital Advisors Inc. increased its holdings in shares of Associated Banc by 11,595.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank’s stock worth $1,825,000 after buying an additional 75,717 shares during the last quarter. State Street Corp raised its position in shares of Associated Banc by 3.3% during the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock valued at $177,282,000 after buying an additional 261,877 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Associated Banc by 315.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock valued at $12,907,000 after buying an additional 410,118 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Price Performance

Associated Banc stock opened at $19.36 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $23.62 and its 200 day simple moving average is $24.00. Associated Banc-Corp has a 52 week low of $18.36 and a 52 week high of $28.18. The firm has a market capitalization of $3.21 billion, a PE ratio of 24.51, a P/E/G ratio of 1.52 and a beta of 0.90.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. On average, equities research analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Monday, March 3rd. Associated Banc’s payout ratio is currently 116.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird lowered their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Stephens restated an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a research note on Tuesday, March 25th. Wells Fargo & Company raised their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, StockNews.com downgraded Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Associated Banc has a consensus rating of “Hold” and a consensus price target of $27.11.

Insider Transactions at Associated Banc

In related news, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. The trade was a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.