Bryce Point Capital LLC Purchases New Stake in Associated Banc-Corp (NYSE:ASB)

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

Several other hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC boosted its position in shares of Associated Banc by 270.5% during the 4th quarter. Headlands Technologies LLC now owns 4,320 shares of the bank’s stock worth $103,000 after acquiring an additional 3,154 shares in the last quarter. Geode Capital Management LLC lifted its stake in Associated Banc by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank’s stock worth $92,026,000 after purchasing an additional 265,378 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Associated Banc in the 4th quarter valued at $37,662,000. Pictet Asset Management Holding SA increased its stake in shares of Associated Banc by 7.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 20,860 shares of the bank’s stock valued at $499,000 after purchasing an additional 1,436 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Associated Banc during the 4th quarter worth $36,144,000. 82.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Piper Sandler boosted their target price on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Stephens reiterated an “equal weight” rating and issued a $28.00 price target on shares of Associated Banc in a research note on Tuesday, March 25th. Finally, Robert W. Baird reduced their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. One 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, the company currently has a consensus rating of “Hold” and an average target price of $27.11.

Insider Buying and Selling

In other news, Director Eileen A. Kamerick sold 7,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the sale, the director now directly owns 66,915 shares of the company’s stock, valued at $1,678,897.35. This represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Associated Banc Stock Up 2.0 %

Shares of ASB opened at $22.62 on Thursday. The stock’s 50-day moving average price is $23.84 and its two-hundred day moving average price is $24.05. Associated Banc-Corp has a 12 month low of $19.76 and a 12 month high of $28.18. The company has a market capitalization of $3.75 billion, a PE ratio of 28.63, a PEG ratio of 1.52 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. On average, analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

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

Associated Banc 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.