Allspring Global Investments Holdings LLC Sells 58,661 Shares of Associated Banc-Corp $ASB

Allspring Global Investments Holdings LLC decreased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 4.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,410,807 shares of the bank’s stock after selling 58,661 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Associated Banc were worth $36,921,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Associated Banc in the fourth quarter worth $54,660,000. Goldman Sachs Group Inc. grew its holdings in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Associated Banc by 4,883.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock worth $35,625,000 after buying an additional 1,357,862 shares during the period. Freestone Grove Partners LP acquired a new position in Associated Banc during the 4th quarter valued at $27,819,000. Finally, Verition Fund Management LLC grew its position in Associated Banc by 50.6% during the fourth quarter. Verition Fund Management LLC now owns 2,867,172 shares of the bank’s stock worth $73,858,000 after buying an additional 963,788 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Down 0.2%

Shares of NYSE ASB opened at $31.27 on Monday. Associated Banc-Corp has a 12-month low of $23.63 and a 12-month high of $31.83. The firm’s 50-day simple moving average is $29.14 and its 200 day simple moving average is $27.66. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.76.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The firm had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $384.20 million. During the same quarter last year, the company posted $0.59 EPS. On average, research analysts expect that Associated Banc-Corp will post 2.91 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.24 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the transaction, the executive vice president owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This trade represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the sale, the executive vice president owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. This represents a 40.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,299 shares of company stock valued at $801,760. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ASB. Piper Sandler raised their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Barclays lifted their target price on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Robert W. Baird boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Associated Banc Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.