Associated Banc-Corp (NYSE:ASB) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,255 shares of the bank’s stock after selling 4,627 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Associated Banc worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ASB. Bessemer Group Inc. raised its stake in 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 acquiring an additional 907 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Associated Banc in the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC lifted 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 valued at $69,000 after purchasing an additional 1,438 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Associated Banc during the second quarter worth approximately $93,000. Finally, nVerses Capital LLC acquired a new position in Associated Banc in the second quarter worth approximately $140,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Price Performance

Shares of ASB stock opened at $27.31 on Monday. The company has a market capitalization of $4.13 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.93 and a beta of 0.91. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a 12 month low of $17.30 and a 12 month high of $28.18. The stock has a 50 day moving average of $23.39 and a two-hundred day moving average of $22.13.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million for the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, equities analysts expect that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.23 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio (DPR) is 73.33%.

Insider Activity at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the transaction, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of the company’s 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 transaction, the director now owns 54,114 shares in the company, valued at approximately $1,108,254.72. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,641 shares of company stock valued at $1,481,496 in the last ninety days. Insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ASB shares. Royal Bank of Canada lifted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Barclays boosted their target price 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. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Associated Banc presently has a consensus rating of “Hold” and an average target price of $23.89.

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.