Hussman Strategic Advisors Inc. Sells 42,000 Shares of Associated Banc-Corp (NYSE:ASB)

Hussman Strategic Advisors Inc. reduced its stake in Associated Banc-Corp (NYSE:ASB) by 40.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,000 shares of the bank’s stock after selling 42,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Associated Banc were worth $1,506,000 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. Point72 DIFC Ltd bought a new stake in Associated Banc during the third quarter worth $39,000. Crews Bank & Trust bought a new stake in Associated Banc during the fourth quarter worth $56,000. Sugar Maple Asset Management LLC bought a new stake in Associated Banc during the fourth quarter worth $64,000. R Squared Ltd bought a new stake in Associated Banc during the fourth quarter worth $67,000. Finally, Farther Finance Advisors LLC lifted its stake in Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after purchasing an additional 1,438 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASB. Barclays upped their target price on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Stephens reiterated an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a report on Friday, January 24th. Finally, Piper Sandler upped their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

Associated Banc Stock Performance

NYSE ASB opened at $25.43 on Thursday. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 1.56 and a beta of 0.94. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18. The stock has a fifty day simple moving average of $24.71 and a 200 day simple moving average of $23.71. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61.

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

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.62%. Associated Banc’s payout ratio is currently 116.46%.

Insiders Place Their Bets

In other news, Director John B. Williams sold 2,830 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the transaction, the director now owns 66,915 shares of the company’s stock, valued at $1,678,897.35. This represents a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.45% of the company’s stock.

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.