Trust Point Inc. Takes $845,000 Position in Associated Banc-Corp (NYSE:ASB)

Trust Point Inc. acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 39,497 shares of the bank’s stock, valued at approximately $845,000.

A number of other large investors have also added to or reduced their stakes in the company. AlphaMark Advisors LLC grew its position in Associated Banc by 3.6% during the 4th quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock worth $307,000 after purchasing an additional 494 shares during the last quarter. Bank of Montreal Can increased its position in shares of Associated Banc by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 22,085 shares of the bank’s stock valued at $420,000 after acquiring an additional 513 shares during the period. Eaton Vance Management raised its stake in Associated Banc by 1.1% in the 1st quarter. Eaton Vance Management now owns 46,341 shares of the bank’s stock worth $1,054,000 after acquiring an additional 526 shares during the last quarter. Captrust Financial Advisors lifted its position in Associated Banc by 5.4% during the 2nd quarter. Captrust Financial Advisors now owns 10,458 shares of the bank’s stock worth $191,000 after acquiring an additional 535 shares during the period. Finally, Arizona State Retirement System grew its stake in Associated Banc by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 42,963 shares of the bank’s stock valued at $735,000 after purchasing an additional 587 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the sale, the director now directly owns 50,126 shares of the company’s stock, valued at $1,053,648.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares of the company’s stock, valued at $1,905,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,710 shares of company stock valued at $454,897. 1.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Royal Bank of Canada raised their price target on shares of Associated Banc from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Friday, January 26th. Raymond James upped their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Barclays initiated coverage on shares of Associated Banc in a report on Friday, March 8th. They set an “equal weight” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.13.

Associated Banc Stock Performance

Shares of NYSE ASB traded up $0.40 during midday trading on Thursday, reaching $21.26. 336,240 shares of the stock were exchanged, compared to its average volume of 1,462,496. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.23 and a beta of 1.00. The firm has a 50-day simple moving average of $20.77 and a two-hundred day simple moving average of $19.35. Associated Banc-Corp has a twelve month low of $14.47 and a twelve month high of $22.16.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Associated Banc had a net margin of 8.12% and a return on equity of 8.90%. The company had revenue of $322.22 million for the quarter, compared to analyst estimates of $325.89 million. As a group, analysts anticipate that Associated Banc-Corp will post 2.12 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 annualized dividend and a dividend yield of 4.14%. Associated Banc’s dividend payout ratio is presently 77.88%.

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.