US Bancorp DE Sells 1,895 Shares of Associated Banc-Corp (NYSE:ASB)

US Bancorp DE cut its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,800 shares of the bank’s stock after selling 1,895 shares during the period. US Bancorp DE owned about 0.05% of Associated Banc worth $1,719,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. LSV Asset Management boosted its stake in Associated Banc by 43.3% in the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after buying an additional 1,224,216 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Associated Banc by 291.3% in the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock worth $33,063,000 after acquiring an additional 1,163,807 shares during the last quarter. M&G Plc acquired a new stake in shares of Associated Banc in the 1st quarter valued at approximately $8,057,000. Point72 Asset Management L.P. increased its position in Associated Banc by 12.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock worth $24,309,000 after purchasing an additional 123,271 shares in the last quarter. Finally, Interval Partners LP lifted its stake in Associated Banc by 27.6% in the 2nd quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock valued at $9,368,000 after purchasing an additional 95,928 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ASB shares. Piper Sandler upped their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Barclays upped their price objective on Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.89.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the transaction, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the transaction, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,105 shares of company stock valued at $671,324 in the last quarter. 1.45% of the stock is currently owned by company insiders.

Associated Banc Trading Up 17.3 %

NYSE:ASB opened at $28.15 on Thursday. Associated Banc-Corp has a 52 week low of $16.59 and a 52 week high of $28.17. The firm’s fifty day moving average is $22.15 and its 200-day moving average is $21.69. The firm has a market cap of $4.26 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period last year, the business posted $0.53 EPS. Equities analysts expect that Associated Banc-Corp will post 2.08 earnings per share for the current year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. Associated Banc’s dividend payout ratio is presently 76.67%.

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.