Wolverine Asset Management LLC Decreases Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Wolverine Asset Management LLC lowered its stake in Associated Banc-Corp (NYSE:ASB) by 36.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,298 shares of the bank’s stock after selling 5,801 shares during the quarter. Wolverine Asset Management LLC’s holdings in Associated Banc were worth $246,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Associated Banc during the third quarter valued at $39,000. Crews Bank & Trust bought a new stake in shares of Associated Banc during the 4th quarter valued at about $56,000. Sugar Maple Asset Management LLC bought a new stake in shares of Associated Banc during the 4th quarter valued at about $64,000. R Squared Ltd purchased a new stake in shares of Associated Banc during the 4th quarter valued at about $67,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Associated Banc by 82.1% in the 3rd 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 period. Institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

ASB has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Piper Sandler upped their price objective on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Barclays lifted their target price on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. StockNews.com lowered Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.00.

Insider Buying and Selling at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction dated 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 directly owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.45% of the company’s stock.

Associated Banc Stock Performance

NYSE:ASB opened at $24.37 on Monday. The stock has a 50-day moving average price of $24.67 and a 200 day moving average price of $23.80. 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 12-month low of $19.76 and a 12-month high of $28.18. The stock has a market capitalization of $4.05 billion, a P/E ratio of 30.84, a P/E/G ratio of 1.56 and a beta of 0.94.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Equities research analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, March 3rd. Associated Banc’s payout ratio is currently 116.46%.

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.