23,263 Shares in Associated Banc-Corp (NYSE:ASB) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in Associated Banc-Corp (NYSE:ASB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,263 shares of the bank’s stock, valued at approximately $556,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position 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 purchasing an additional 579 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc in the third quarter worth approximately $39,000. Crews Bank & Trust bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $56,000. Sugar Maple Asset Management LLC purchased a new position in shares of Associated Banc during the fourth quarter valued at approximately $64,000. Finally, R Squared Ltd bought a new stake in Associated Banc during the fourth quarter worth $67,000. Institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

ASB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. StockNews.com cut shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Barclays upped their target price on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, Piper Sandler raised their target price on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.11.

Associated Banc Trading Up 2.0 %

Shares of Associated Banc stock opened at $22.62 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $3.75 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.52 and a beta of 0.90. Associated Banc-Corp has a 52-week low of $19.76 and a 52-week high of $28.18. The stock’s 50-day simple moving average is $23.84 and its 200 day simple moving average is $24.05.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 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%. As a group, research analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 116.46%.

Insider Activity at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction dated 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 transaction, the director now owns 49,495 shares of the company’s stock, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Williams sold 2,830 shares of the 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 completion of the sale, the director now directly owns 66,915 shares in the company, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.