Mutual of America Capital Management LLC Buys 4,748 Shares of Associated Banc-Corp (NYSE:ASB)

Mutual of America Capital Management LLC raised its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,003 shares of the bank’s stock after buying an additional 4,748 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Associated Banc worth $2,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC grew its position in Associated Banc by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after acquiring an additional 455 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Associated Banc by 2.8% during the 3rd 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. increased its stake in shares of Associated Banc by 4.4% during the fourth 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 period. Harbour Investments Inc. raised its holdings in shares of Associated Banc by 2.1% in the third 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, Franklin Resources Inc. grew its holdings in Associated Banc by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 144,521 shares of the bank’s stock worth $3,192,000 after acquiring an additional 1,064 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Insider Transactions at Associated Banc

In other news, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the director now directly owns 66,915 shares of the company’s stock, valued at $1,678,897.35. This represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ASB shares. Stephens restated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. Wells Fargo & Company increased their price objective on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Robert W. Baird reduced their target price on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Piper Sandler boosted their price target on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Barclays increased their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.00.

Associated Banc Stock Down 1.5 %

Shares of NYSE ASB opened at $22.67 on Friday. Associated Banc-Corp has a 52-week low of $19.76 and a 52-week high of $28.18. The company’s 50-day simple moving average is $24.61 and its 200-day simple moving average is $23.96. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Equities analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, March 3rd. Associated Banc’s dividend payout ratio 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.