Greenleaf Trust Sells 5,426 Shares of Associated Banc-Corp (NYSE:ASB)

Greenleaf Trust cut its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 33.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,831 shares of the bank’s stock after selling 5,426 shares during the quarter. Greenleaf Trust’s holdings in Associated Banc were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ASB. AQR Capital Management LLC raised its holdings in Associated Banc by 92.2% during the third quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock valued at $24,524,000 after acquiring an additional 687,552 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in Associated Banc by 2,344.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock valued at $12,134,000 after acquiring an additional 680,161 shares during the period. Walleye Capital LLC bought a new stake in Associated Banc during the third quarter valued at about $7,561,000. Assenagon Asset Management S.A. bought a new stake in Associated Banc during the third quarter valued at about $6,404,000. Finally, WBI Investments Inc. bought a new stake in shares of Associated Banc in the third quarter worth about $4,631,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Trading Up 0.4 %

Shares of NYSE ASB opened at $21.36 on Thursday. Associated Banc-Corp has a 1-year low of $14.47 and a 1-year high of $22.16. The business’s 50 day moving average is $20.75 and its two-hundred day moving average is $19.72. The stock has a market capitalization of $3.21 billion, a P/E ratio of 18.90, a PEG ratio of 1.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The business had revenue of $322.22 million during the quarter, compared to analyst estimates of $325.89 million. As a group, research analysts expect that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.22 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.88 annualized dividend and a dividend yield of 4.12%. Associated Banc’s dividend payout ratio (DPR) is presently 77.88%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. Piper Sandler lifted their target price on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Raymond James lifted their target price on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Barclays assumed coverage on Associated Banc in a report on Friday, March 8th. They issued an “equal weight” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.63.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the transaction, the director now owns 62,876 shares in the company, valued at $1,229,225.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Associated Banc news, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the transaction, the director now owns 62,876 shares in the company, valued at $1,229,225.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The disclosure for this sale can be found here. Insiders sold 21,710 shares of company stock worth $454,897 over the last 90 days. Company insiders own 1.45% of the company’s stock.

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.