51,900 Shares in Associated Banc-Corp $ASB Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 51,900 shares of the bank’s stock, valued at approximately $1,266,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System lifted its stake in shares of Associated Banc by 0.7% in the 2nd quarter. New York State Teachers Retirement System now owns 193,603 shares of the bank’s stock valued at $4,722,000 after purchasing an additional 1,388 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Associated Banc during the second quarter worth $34,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Associated Banc during the second quarter worth $337,000. Pzena Investment Management LLC grew its holdings in shares of Associated Banc by 4.0% during the second quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock worth $45,354,000 after buying an additional 71,676 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in shares of Associated Banc during the second quarter worth $469,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Associated Banc

In related news, EVP Matthew R. Braeger sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the transaction, the executive vice president owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. The trade was a 13.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Edward Ahern sold 3,342 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.20, for a total transaction of $87,560.40. Following the transaction, the executive vice president directly owned 41,472 shares of the company’s stock, valued at approximately $1,086,566.40. This represents a 7.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,342 shares of company stock worth $494,360. Insiders own 1.45% of the company’s stock.

Associated Banc Trading Down 0.6%

Shares of ASB stock opened at $25.21 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $4.18 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 1.01 and a beta of 0.82. The company has a 50-day moving average of $25.93 and a two-hundred day moving average of $24.28. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. During the same quarter last year, the firm posted $0.52 earnings per share. On average, analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.7%. Associated Banc’s dividend payout ratio (DPR) is 119.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Robert W. Baird upped their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Barclays upped their price objective on shares of Associated Banc from $30.00 to $32.00 and gave the company a “positive” rating in a report on Wednesday, October 8th. Finally, Truist Financial upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.11.

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.