Associated Banc-Corp (NYSE:ASB) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 68.5% in the fourth quarter, HoldingsChannel reports. The firm owned 11,610 shares of the bank’s stock after selling 25,210 shares during the period. Congress Wealth Management LLC DE’s holdings in Associated Banc were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Associated Banc by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after buying an additional 455 shares during the period. US Bancorp DE lifted its holdings in Associated Banc by 0.6% in the fourth quarter. US Bancorp DE now owns 80,294 shares of the bank’s stock valued at $1,919,000 after acquiring an additional 494 shares during the period. Smartleaf Asset Management LLC boosted its position in Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock worth $42,000 after purchasing an additional 579 shares in the last quarter. Securian Asset Management Inc. grew its stake in shares of Associated Banc by 5.4% during the 4th quarter. Securian Asset Management Inc. now owns 12,165 shares of the bank’s stock worth $291,000 after purchasing an additional 619 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Associated Banc by 4.4% during the 4th quarter. UMB Bank n.a. now owns 16,182 shares of the bank’s stock valued at $387,000 after purchasing an additional 677 shares in the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Down 1.5 %

Shares of ASB opened at $22.38 on Friday. The stock has a 50 day moving average price of $24.02 and a 200 day moving average price of $24.01. Associated Banc-Corp has a one year low of $19.76 and a one year high of $28.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.52 and a beta of 0.90.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Equities research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is 116.46%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Royal Bank of Canada raised their target price on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Finally, Raymond James decreased their target price on Associated Banc from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.11.

Insider Transactions at Associated Banc

In related news, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Williams sold 2,830 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the sale, the director now owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.