Federated Hermes Inc. Has $301,000 Stake in Associated Banc-Corp (NYSE:ASB)

Federated Hermes Inc. reduced its position in shares of Associated Banc-Corp (NYSE:ASB) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,235 shares of the bank’s stock after selling 3,632 shares during the period. Federated Hermes Inc.’s holdings in Associated Banc were worth $301,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Associated Banc by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock worth $334,522,000 after purchasing an additional 184,813 shares in the last quarter. LSV Asset Management lifted its position in Associated Banc by 43.3% during the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock worth $87,133,000 after buying an additional 1,224,216 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Associated Banc by 50.2% during the 4th quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock worth $46,652,000 after buying an additional 728,555 shares during the last quarter. Norges Bank acquired a new stake in shares of Associated Banc in the fourth quarter valued at about $36,722,000. Finally, Rafferty Asset Management LLC raised its holdings in Associated Banc by 91.4% during the fourth quarter. Rafferty Asset Management LLC now owns 440,620 shares of the bank’s stock worth $9,425,000 after acquiring an additional 210,433 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

Associated Banc Stock Down 0.6 %

Associated Banc stock opened at $21.40 on Wednesday. The company’s 50-day moving average price is $21.87 and its two-hundred day moving average price is $21.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.23 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.24 and a beta of 0.93. Associated Banc-Corp has a twelve month low of $15.16 and a twelve month high of $24.21.

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

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.22 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.11%. Associated Banc’s payout ratio is presently 88.89%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ASB. Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Baird R W downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird dropped their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group decreased their price objective on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.67.

Insider Activity at Associated Banc

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the business’s 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 sale, the director now owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lith Karen Van sold 8,061 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,835 shares of company stock worth $757,214. Corporate insiders own 1.45% of the company’s stock.

About Associated Banc

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.