Hancock Whitney Corp Has $1.24 Million Holdings in Associated Banc-Corp (NYSE:ASB)

Hancock Whitney Corp trimmed its position in shares of Associated Banc-Corp (NYSE:ASB) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,600 shares of the bank’s stock after selling 732 shares during the period. Hancock Whitney Corp’s holdings in Associated Banc were worth $1,241,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Associated Banc by 285.2% in the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after acquiring an additional 907 shares during the last quarter. Quest Partners LLC acquired a new stake in Associated Banc in the second quarter valued at approximately $38,000. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 1,438 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Associated Banc during the second quarter worth $93,000. Finally, nVerses Capital LLC bought a new position in shares of Associated Banc in the 2nd quarter valued at $140,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insider Buying and Selling

In related news, EVP John A. Utz sold 2,000 shares of the company’s 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 in the company, valued at approximately $2,269,730.86. This represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,641 shares of company stock valued at $1,481,496. 1.45% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ASB shares. Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a report on Tuesday, July 30th. Barclays raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.89.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $27.03 on Wednesday. The company has a market cap of $4.09 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a 52 week low of $17.30 and a 52 week high of $28.18. The business has a 50 day moving average price of $23.51 and a 200-day moving average price of $22.17.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The firm had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. During the same period in the previous year, the firm earned $0.53 EPS. Equities analysts anticipate that Associated Banc-Corp will post 2.13 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.40%. Associated Banc’s dividend payout ratio (DPR) is currently 76.67%.

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.