American Century Companies Inc. Has $39.09 Million Stake in Associated Banc-Corp (NYSE:ASB)

American Century Companies Inc. reduced its holdings in Associated Banc-Corp (NYSE:ASB) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635,668 shares of the bank’s stock after selling 22,979 shares during the quarter. American Century Companies Inc. owned approximately 1.08% of Associated Banc worth $39,092,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp boosted its stake in Associated Banc by 3.3% in 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. Geode Capital Management LLC raised its holdings in shares of Associated Banc by 2.3% in the third quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock valued at $77,219,000 after buying an additional 79,658 shares during the last quarter. Verition Fund Management LLC lifted its position in Associated Banc by 11.2% during the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock worth $65,401,000 after buying an additional 305,133 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Associated Banc by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank’s stock worth $53,738,000 after acquiring an additional 111,310 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Associated Banc by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,761,584 shares of the bank’s stock valued at $42,102,000 after acquiring an additional 31,956 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Robert W. Baird cut their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company upped their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.11.

Associated Banc Price Performance

Associated Banc stock opened at $22.75 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.77 billion, a P/E ratio of 28.79, a PEG ratio of 1.52 and a beta of 0.90. The business has a 50-day moving average of $24.07 and a 200-day moving average of $23.98. Associated Banc-Corp has a 1 year low of $19.76 and a 1 year high of $28.18.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data 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 net margin of 5.15% and a return on equity of 8.24%. On average, equities analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.04%. The ex-dividend date was Monday, March 3rd. Associated Banc’s payout ratio is presently 116.46%.

Insiders Place Their Bets

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 transaction of $71,004.70. Following the transaction, the director now owns 66,915 shares in the company, valued at $1,678,897.35. The trade was a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the 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 sale, the director now directly owns 49,495 shares of the company’s stock, valued at approximately $1,223,021.45. The trade was a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

About Associated Banc

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.