Allspring Global Investments Holdings LLC Has $57.85 Million Holdings in Associated Banc-Corp (NYSE:ASB)

Allspring Global Investments Holdings LLC cut its stake in Associated Banc-Corp (NYSE:ASB) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,689,371 shares of the bank’s stock after selling 18,322 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.79% of Associated Banc worth $57,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. boosted its stake in Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after purchasing an additional 964 shares during the period. Creekmur Asset Management LLC acquired a new position in Associated Banc in the 4th quarter worth $28,000. Parallel Advisors LLC boosted its stake in Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after purchasing an additional 894 shares during the period. Quadrant Capital Group LLC boosted its stake in Associated Banc by 183.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after purchasing an additional 1,850 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Associated Banc in the 4th quarter worth $84,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 2,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at approximately $2,238,449.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Associated Banc news, EVP John A. Utz sold 2,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at approximately $2,238,449.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicole M. Kitowski sold 5,019 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares in the company, valued at $806,591.39. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

ASB has been the topic of several analyst reports. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens reissued an “equal weight” rating and set a $23.00 price target on shares of Associated Banc in a research report on Friday, April 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Barclays cut their price target on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Finally, Wells Fargo & Company boosted their price target on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.88.

Associated Banc Stock Up 0.2 %

Shares of ASB stock opened at $20.87 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day moving average is $21.15 and its 200-day moving average is $21.01. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.20 and a beta of 0.95. Associated Banc-Corp has a 52-week low of $15.16 and a 52-week high of $22.77.

Associated Banc (NYSE:ASB) last issued its earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. Associated Banc’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Sell-side analysts predict that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.88 annualized dividend and a yield of 4.22%. Associated Banc’s dividend payout ratio is currently 88.89%.

Associated Banc 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.