California State Teachers Retirement System reduced its stake in shares of Associated Banc-Corp (NYSE:ASB – Free Report) by 1.4% during the 1st quarter, HoldingsChannel reports. The fund owned 187,616 shares of the bank’s stock after selling 2,741 shares during the period. California State Teachers Retirement System’s holdings in Associated Banc were worth $3,373,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new position in shares of Associated Banc during the first quarter valued at approximately $32,000. Fifth Third Bancorp grew its stake in shares of Associated Banc by 370.7% during the first quarter. Fifth Third Bancorp now owns 1,845 shares of the bank’s stock valued at $33,000 after buying an additional 1,453 shares during the last quarter. CI Investments Inc. bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $35,000. Coppell Advisory Solutions Corp. bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Associated Banc by 31.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,335 shares of the bank’s stock valued at $54,000 after buying an additional 556 shares during the last quarter. 81.58% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Associated Banc news, EVP Randall J. Erickson sold 26,335 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $19.00, for a total transaction of $500,365.00. Following the completion of the sale, the executive vice president now owns 138,055 shares in the company, valued at $2,623,045. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.49% of the stock is owned by company insiders.
Associated Banc Stock Up 0.1 %
Associated Banc stock opened at $16.90 on Friday. The business has a fifty day moving average of $17.50 and a two-hundred day moving average of $18.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.06. The firm has a market cap of $2.55 billion, a P/E ratio of 6.65, a P/E/G ratio of 0.93 and a beta of 1.02. Associated Banc-Corp has a twelve month low of $14.47 and a twelve month high of $25.50.
Associated Banc (NYSE:ASB – Get Free Report) last posted its earnings results on Thursday, July 20th. The bank reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). The company had revenue of $328.25 million for the quarter, compared to analysts’ expectations of $332.65 million. Associated Banc had a return on equity of 10.25% and a net margin of 20.93%. On average, analysts forecast that Associated Banc-Corp will post 2.22 earnings per share for the current fiscal year.
Associated Banc Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 4.97%. Associated Banc’s dividend payout ratio is currently 33.07%.
Analysts Set New Price Targets
A number of research analysts have recently commented on ASB shares. Piper Sandler upped their target price on Associated Banc from $17.50 to $18.50 in a research note on Friday, July 21st. Raymond James boosted their price target on Associated Banc from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Stephens boosted their price target on Associated Banc from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 21st. Finally, StockNews.com started coverage on Associated Banc in a report on Thursday, August 17th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.69.
Read Our Latest Stock Analysis on Associated Banc
Associated Banc Company 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 operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.
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