New York State Teachers Retirement System Sells 10,100 Shares of Associated Banc-Corp (NYSE:ASB)

New York State Teachers Retirement System trimmed its position in Associated Banc-Corp (NYSE:ASB) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,515 shares of the bank’s stock after selling 10,100 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Associated Banc worth $4,697,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Associated Banc by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock worth $112,000 after purchasing an additional 455 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Associated Banc by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock worth $419,000 after buying an additional 525 shares in the last quarter. UMB Bank n.a. raised its position in Associated Banc by 4.4% in the 4th quarter. UMB Bank n.a. now owns 16,182 shares of the bank’s stock valued at $387,000 after buying an additional 677 shares during the last quarter. Harbour Investments Inc. lifted its stake in Associated Banc by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 38,674 shares of the bank’s stock valued at $833,000 after acquiring an additional 785 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in Associated Banc by 7.9% during the 3rd quarter. Greenleaf Trust now owns 11,596 shares of the bank’s stock worth $250,000 after acquiring an additional 853 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John B. Williams sold 2,830 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the transaction, the director now directly owns 66,915 shares in the company, valued at approximately $1,678,897.35. This represents a 4.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

ASB has been the subject of a number of research analyst reports. Robert W. Baird decreased their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted 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 reissued an “equal weight” rating and issued a $28.00 price target on shares of Associated Banc in a report on Friday, January 24th. Piper Sandler raised their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and a consensus target price of $27.00.

Associated Banc Trading Down 1.1 %

Shares of NYSE:ASB opened at $25.14 on Friday. Associated Banc-Corp has a 12-month low of $19.76 and a 12-month high of $28.18. The company has a market cap of $4.18 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. The stock has a 50 day moving average of $24.70 and a 200 day moving average of $23.72. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share 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%. As a group, equities research analysts expect that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 3.66%. Associated Banc’s dividend payout ratio (DPR) is currently 116.46%.

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.