Nisa Investment Advisors LLC Has $212,000 Stock Position in Associated Banc-Corp (NYSE:ASB)

Nisa Investment Advisors LLC reduced its stake in shares of Associated Banc-Corp (NYSE:ASB) by 54.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,853 shares of the bank’s stock after selling 10,676 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Associated Banc were worth $212,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Associated Banc by 221.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock valued at $3,511,000 after buying an additional 112,323 shares during the period. State Street Corp increased its stake in Associated Banc by 3.3% in the third quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock valued at $177,282,000 after acquiring an additional 261,877 shares during the period. Harbor Capital Advisors Inc. raised its position in Associated Banc by 11,595.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank’s stock worth $1,825,000 after purchasing an additional 75,717 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Associated Banc by 315.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock worth $12,907,000 after purchasing an additional 410,118 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Associated Banc by 114.6% during the third quarter. BNP Paribas Financial Markets now owns 96,752 shares of the bank’s stock worth $2,084,000 after purchasing an additional 51,672 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Price Performance

Shares of ASB stock opened at $24.80 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.07 and a beta of 0.94. The firm’s 50 day moving average is $25.12 and its 200-day moving average is $23.49. Associated Banc-Corp has a 1 year low of $19.40 and a 1 year high of $28.18.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. Sell-side analysts forecast that Associated Banc-Corp will post 2.15 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 76.67%.

Insider Transactions at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ASB has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Robert W. Baird dropped their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Piper Sandler upped their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.00.

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.