Trust Point Inc. Sells 478 Shares of Associated Banc-Corp (NYSE:ASB)

Trust Point Inc. lessened its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 40,972 shares of the bank’s stock after selling 478 shares during the period. Trust Point Inc.’s holdings in Associated Banc were worth $883,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Steph & Co. lifted its stake in shares of Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after acquiring an additional 964 shares during the period. Bessemer Group Inc. lifted its stake in shares of Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after acquiring an additional 907 shares during the period. Quest Partners LLC acquired a new position in shares of Associated Banc during the second quarter valued at $38,000. Meeder Asset Management Inc. acquired a new position in Associated Banc in the first quarter valued at about $74,000. Finally, Neo Ivy Capital Management acquired a new position in Associated Banc in the second quarter valued at about $93,000. Institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASB. Jefferies Financial Group cut their target price on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. Barclays raised their price target on Associated Banc from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Keefe, Bruyette & Woods raised their price target on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.78.

Associated Banc Stock Down 1.3 %

NYSE:ASB opened at $22.85 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $3.45 billion, a PE ratio of 23.08, a PEG ratio of 1.66 and a beta of 0.93. Associated Banc-Corp has a 52-week low of $15.16 and a 52-week high of $24.21. The stock has a 50-day simple moving average of $21.57 and a 200 day simple moving average of $21.40.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. On average, sell-side analysts expect that Associated Banc-Corp will post 2.06 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 3.85%. Associated Banc’s dividend payout ratio is 88.89%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the transaction, the executive vice president now owns 99,637 shares of the company’s stock, valued at $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $757,214 over the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

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.