WoodTrust Financial Corp Sells 176,452 Shares of Associated Banc-Corp $ASB

WoodTrust Financial Corp decreased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 90.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,309 shares of the bank’s stock after selling 176,452 shares during the period. WoodTrust Financial Corp’s holdings in Associated Banc were worth $471,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Associated Banc by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,151,111 shares of the bank’s stock worth $101,256,000 after buying an additional 67,219 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the last quarter. American Century Companies Inc. boosted its holdings in Associated Banc by 7.7% during the second quarter. American Century Companies Inc. now owns 1,983,873 shares of the bank’s stock valued at $48,387,000 after acquiring an additional 141,946 shares during the period. Norges Bank acquired a new stake in shares of Associated Banc in the second quarter valued at about $48,373,000. Finally, Pzena Investment Management LLC increased its stake in shares of Associated Banc by 4.0% in the second quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock worth $45,354,000 after purchasing an additional 71,676 shares during the period. Institutional investors own 82.98% of the company’s stock.

Associated Banc Trading Down 0.5%

Shares of ASB opened at $26.58 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market cap of $4.41 billion, a PE ratio of 28.27, a PEG ratio of 0.74 and a beta of 0.79. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $27.58. The stock has a 50 day simple moving average of $26.09 and a 200-day simple moving average of $25.75.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $390.71 million during the quarter, compared to analyst estimates of $377.94 million. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.During the same period in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, December 1st. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. Associated Banc’s dividend payout ratio is presently 102.13%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ASB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. UBS Group reissued a “buy” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, December 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Truist Financial increased their price target on shares of Associated Banc from $27.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Barclays dropped their price objective on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.50.

Insider Activity

In related news, EVP Patrick Edward Ahern sold 30,489 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the transaction, the executive vice president owned 24,055 shares in the company, valued at $618,213.50. The trade was a 55.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 2,135 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the completion of the transaction, the executive vice president owned 109,842 shares in the company, valued at $2,900,927.22. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 35,951 shares of company stock worth $925,756. 1.45% of the stock is owned by corporate insiders.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.