ProShare Advisors LLC Decreases Stake in Associated Banc-Corp $ASB

ProShare Advisors LLC cut its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,806 shares of the bank’s stock after selling 30,550 shares during the period. ProShare Advisors LLC owned approximately 0.16% of Associated Banc worth $6,911,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its stake in Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after acquiring an additional 408 shares during the period. Bessemer Group Inc. raised its holdings in shares of Associated Banc by 55.5% during the third quarter. Bessemer Group Inc. now owns 2,074 shares of the bank’s stock valued at $54,000 after purchasing an additional 740 shares during the last quarter. Savant Capital LLC lifted its position in Associated Banc by 2.0% during the third quarter. Savant Capital LLC now owns 50,461 shares of the bank’s stock valued at $1,297,000 after purchasing an additional 1,013 shares during the period. Hantz Financial Services Inc. boosted its holdings in Associated Banc by 322.9% in the third quarter. Hantz Financial Services Inc. now owns 5,054 shares of the bank’s stock worth $130,000 after purchasing an additional 3,859 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Associated Banc by 31.2% in the third quarter. Allianz Asset Management GmbH now owns 87,966 shares of the bank’s stock worth $2,262,000 after purchasing an additional 20,930 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $28.31 on Thursday. The stock has a market cap of $4.70 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $26.87 and its 200 day moving average is $26.01. Associated Banc-Corp has a one year low of $18.32 and a one year high of $29.51.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same quarter in the previous year, the company posted $0.72 earnings per share. Sell-side analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc announced that its Board of Directors has initiated a share buyback program on Tuesday, January 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.4%. Associated Banc’s payout ratio is 34.66%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ASB. UBS Group reiterated a “buy” rating and set a $28.00 target price on shares of Associated Banc in a research note on Tuesday, December 2nd. Royal Bank Of Canada lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. Piper Sandler increased their target price on Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Sunday, February 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.20.

Insider Buying and Selling

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the sale, the executive vice president owned 109,842 shares in the company, valued at approximately $2,900,927.22. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Edward Ahern sold 14,731 shares of Associated Banc stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total transaction of $427,640.93. Following the transaction, the executive vice president directly owned 39,401 shares in the company, valued at $1,143,811.03. This represents a 27.21% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,007 shares of company stock valued at $1,418,613. 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.