Trexquant Investment LP Sells 67,333 Shares of Associated Banc-Corp (NYSE:ASB)

Trexquant Investment LP lowered its holdings in Associated Banc-Corp (NYSE:ASB) by 26.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,936 shares of the bank’s stock after selling 67,333 shares during the period. Trexquant Investment LP owned approximately 0.13% of Associated Banc worth $4,563,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ASB. Cerity Partners LLC lifted its position in shares of Associated Banc by 62.7% during the third quarter. Cerity Partners LLC now owns 19,636 shares of the bank’s stock worth $423,000 after acquiring an additional 7,567 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Associated Banc by 114.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 96,752 shares of the bank’s stock valued at $2,084,000 after purchasing an additional 51,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Associated Banc by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 328,306 shares of the bank’s stock worth $7,072,000 after purchasing an additional 5,386 shares in the last quarter. Centiva Capital LP bought a new position in Associated Banc in the 3rd quarter worth about $278,000. Finally, Point72 DIFC Ltd purchased a new position in Associated Banc during the 3rd quarter valued at about $39,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASB has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, March 25th. Raymond James reduced their target price on Associated Banc from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.11.

Associated Banc Stock Performance

NYSE:ASB opened at $19.36 on Friday. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.52 and a beta of 0.90. The business has a 50 day moving average of $23.62 and a 200 day moving average of $24.02. 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-Corp has a 1-year low of $18.36 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently disclosed 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 4.75%. Associated Banc’s dividend payout ratio is currently 116.46%.

Insider Activity

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now directly owns 49,495 shares of the company’s stock, valued at approximately $1,223,021.45. This trade represents a 12.39 % 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.