WoodTrust Financial Corp Has $347,000 Position in Associated Banc-Corp (NYSE:ASB)

WoodTrust Financial Corp decreased its position in shares of Associated Banc-Corp (NYSE:ASB) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,112 shares of the bank’s stock after selling 1,654 shares during the quarter. WoodTrust Financial Corp’s holdings in Associated Banc were worth $347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in Associated Banc by 285.2% in the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after acquiring an additional 907 shares during the last quarter. Quest Partners LLC acquired a new position in Associated Banc during the 2nd quarter valued at about $38,000. Farther Finance Advisors LLC boosted its stake in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Associated Banc during the 1st quarter worth approximately $74,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Associated Banc during the second quarter worth approximately $93,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Stock Performance

Shares of ASB stock opened at $28.15 on Thursday. The company has a market capitalization of $4.26 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. Associated Banc-Corp has a 52 week low of $16.59 and a 52 week high of $28.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average price is $22.15 and its two-hundred day moving average price is $21.69.

Associated Banc (NYSE:ASB) last announced its 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. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The firm had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. During the same period in the prior year, the business earned $0.53 EPS. On average, analysts expect that Associated Banc-Corp will post 2.08 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio (DPR) is currently 76.67%.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the sale, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,105 shares of company stock worth $671,324. Corporate insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ASB shares. Stephens reaffirmed an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research note on Tuesday, July 30th. Barclays lifted their price objective on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their target price on Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and an average price target of $23.89.

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 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.