10,388 Shares in Associated Banc-Corp (NYSE:ASB) Acquired by United Services Automobile Association

United Services Automobile Association acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,388 shares of the bank’s stock, valued at approximately $248,000.

Several other hedge funds also recently bought and sold shares of the business. Thrivent Financial for Lutherans grew its holdings in shares of Associated Banc by 221.6% in the third quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock worth $3,511,000 after purchasing an additional 112,323 shares during the last quarter. Commerce Bank boosted its position in Associated Banc by 16.7% in the 3rd quarter. Commerce Bank now owns 24,795 shares of the bank’s stock valued at $534,000 after buying an additional 3,542 shares during the period. Intech Investment Management LLC boosted its position in Associated Banc by 117.6% in the 3rd quarter. Intech Investment Management LLC now owns 42,697 shares of the bank’s stock valued at $920,000 after buying an additional 23,076 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Associated Banc by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock worth $46,034,000 after acquiring an additional 17,425 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Associated Banc by 6.4% during the third quarter. Citigroup Inc. now owns 296,155 shares of the bank’s stock worth $6,379,000 after acquiring an additional 17,699 shares during the period. Institutional investors own 82.98% of the company’s stock.

Associated Banc Price Performance

Shares of ASB opened at $23.22 on Tuesday. The company has a 50 day moving average of $24.20 and a two-hundred day moving average of $23.99. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. 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-Corp has a twelve month low of $19.76 and a twelve month high of $28.18.

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

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.23 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.96%. Associated Banc’s dividend payout ratio (DPR) is currently 116.46%.

Analyst Ratings Changes

Several brokerages recently issued reports on ASB. Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a research note on Friday, January 24th. Piper Sandler increased their price target on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.11.

Insider Activity at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the sale, the director now directly owns 66,915 shares of the company’s stock, valued at $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now owns 49,495 shares of the company’s stock, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

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.