Associated Banc-Corp (NYSE:ASB) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp trimmed its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,332 shares of the bank’s stock after selling 1,437 shares during the period. Hancock Whitney Corp’s holdings in Associated Banc were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in Associated Banc by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock worth $1,072,000 after buying an additional 656 shares in the last quarter. Intech Investment Management LLC acquired a new position in Associated Banc in the 2nd quarter valued at about $415,000. MQS Management LLC purchased a new position in Associated Banc in the 2nd quarter valued at about $361,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Associated Banc by 4.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock worth $234,000 after purchasing an additional 525 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Associated Banc by 138.5% during the second quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock worth $174,000 after buying an additional 4,775 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Stock Performance

NYSE ASB opened at $21.69 on Monday. The business’s 50-day simple moving average is $21.92 and its 200-day simple moving average is $21.31. The firm has a market capitalization of $3.27 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.24 and a beta of 0.93. Associated Banc-Corp has a 1-year low of $15.16 and a 1-year high of $24.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The company had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. During the same period in the previous year, the firm earned $0.56 earnings per share. Associated Banc’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Associated Banc-Corp will post 2.07 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.06%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays reduced their price target on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group lowered their price objective on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Stephens reiterated an “equal weight” rating and set a $24.00 target price on shares of Associated Banc in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.67.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction on 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 in the company, valued at $1,108,254.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 2,000 shares of the firm’s stock in a transaction on 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 $2,269,730.86. The disclosure for this sale can be found here. Insiders have sold 33,835 shares of company stock valued at $757,214 over the last three months. 1.45% of the stock is owned by company insiders.

Associated Banc 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.