Brandywine Global Investment Management LLC Sells 219,453 Shares of Associated Banc-Corp (NYSE:ASB)

Brandywine Global Investment Management LLC cut its stake in Associated Banc-Corp (NYSE:ASB) by 43.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 289,794 shares of the bank’s stock after selling 219,453 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Associated Banc were worth $6,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Associated Banc in the third quarter valued at about $39,000. Smartleaf Asset Management LLC increased its holdings in Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after buying an additional 579 shares during the period. Crews Bank & Trust acquired a new position in shares of Associated Banc in the 4th quarter valued at approximately $56,000. Sugar Maple Asset Management LLC bought a new stake in shares of Associated Banc during the 4th quarter worth approximately $64,000. Finally, R Squared Ltd acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $67,000. 82.98% of the stock is currently owned by institutional investors.

Associated Banc Price Performance

ASB stock opened at $22.55 on Tuesday. Associated Banc-Corp has a 1 year low of $19.76 and a 1 year high of $28.18. The stock has a market capitalization of $3.73 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company’s 50-day moving average is $23.96 and its 200-day moving average is $24.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping 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 expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.23 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.08%. Associated Banc’s dividend payout ratio is currently 116.46%.

Insider Activity at Associated Banc

In related news, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the sale, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada boosted their price objective 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. Wells Fargo & Company boosted their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. StockNews.com lowered Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a research note on Tuesday, March 25th. Finally, Barclays raised their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Associated Banc presently has an average rating of “Hold” and an average target price of $27.11.

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.