Prudential Financial Inc. Has $10.22 Million Stake in Associated Banc-Corp (NYSE:ASB)

Prudential Financial Inc. grew its stake in shares of Associated Banc-Corp (NYSE:ASB) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,645 shares of the bank’s stock after buying an additional 87,651 shares during the period. Prudential Financial Inc. owned approximately 0.28% of Associated Banc worth $10,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ASB. Proficio Capital Partners LLC bought a new position in Associated Banc during the 4th quarter worth approximately $353,000. State Street Corp boosted its position in shares of Associated Banc by 3.3% during the third quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after purchasing an additional 261,877 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Associated Banc by 11,595.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 76,370 shares of the bank’s stock worth $1,825,000 after purchasing an additional 75,717 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Associated Banc by 315.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock valued at $12,907,000 after buying an additional 410,118 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Associated Banc by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank’s stock valued at $53,738,000 after buying an additional 111,310 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the sale, the director now owns 66,915 shares in the company, valued at $1,678,897.35. This represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $172,970.00. Following the transaction, the director now owns 49,495 shares of the company’s stock, valued at $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ASB. Barclays boosted their target price on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Piper Sandler increased their target price on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Wells Fargo & Company raised their target price 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. Keefe, Bruyette & Woods upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Finally, Robert W. Baird dropped their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.11.

Associated Banc Stock Down 1.5 %

Associated Banc stock opened at $22.38 on Friday. The company has a fifty day simple moving average of $24.02 and a 200 day simple moving average of $23.99. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Associated Banc-Corp has a 1-year low of $19.76 and a 1-year high of $28.18. The company has a market cap of $3.71 billion, a P/E ratio of 28.33, a price-to-earnings-growth 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, beating 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%. Research analysts anticipate 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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Monday, March 3rd. Associated Banc’s dividend payout ratio is currently 116.46%.

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.