Associated Banc-Corp (NYSE:ASB) Shares Sold by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC reduced its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,819 shares of the bank’s stock after selling 533 shares during the period. Nicolet Advisory Services LLC owned about 0.06% of Associated Banc worth $1,938,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Associated Banc in the first quarter valued at $866,000. M&G Plc grew its position in shares of Associated Banc by 12.4% during the second quarter. M&G Plc now owns 411,761 shares of the bank’s stock worth $8,647,000 after buying an additional 45,542 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Associated Banc during the first quarter worth approximately $609,000. Nisa Investment Advisors LLC raised its holdings in Associated Banc by 54.8% in the second quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank’s stock valued at $735,000 after acquiring an additional 12,296 shares in the last quarter. Finally, Interval Partners LP lifted its stake in Associated Banc by 27.6% in the second quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock worth $9,368,000 after acquiring an additional 95,928 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the sale, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,641 shares of company stock worth $1,481,496. 1.45% of the stock is owned by corporate insiders.

Associated Banc Stock Performance

Shares of ASB opened at $27.31 on Friday. The company has a market capitalization of $4.13 billion, a PE ratio of 22.76, a P/E/G ratio of 1.88 and a beta of 0.91. Associated Banc-Corp has a 52-week low of $17.30 and a 52-week high of $28.18. The company has a 50-day simple moving average of $23.27 and a 200-day simple moving average of $22.10. 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 (NYSE:ASB) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period last year, the company posted $0.53 earnings per share. Equities research analysts predict that Associated Banc-Corp will post 2.13 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.37%. Associated Banc’s payout ratio is currently 76.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ASB shares. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Piper Sandler raised their price objective on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays upped 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 report on Friday, October 25th. Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Associated Banc presently has an average rating of “Hold” and an average price target of $23.89.

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.