Wolverine Asset Management LLC Sells 5,801 Shares of Associated Banc-Corp (NYSE:ASB)

Wolverine Asset Management LLC reduced its position in Associated Banc-Corp (NYSE:ASB) by 36.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,298 shares of the bank’s stock after selling 5,801 shares during the quarter. Wolverine Asset Management LLC’s holdings in Associated Banc were worth $246,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ASB. Point72 DIFC Ltd bought a new position in Associated Banc in the 3rd quarter valued at $39,000. Crews Bank & Trust bought a new stake in Associated Banc during the fourth quarter valued at $56,000. Sugar Maple Asset Management LLC bought a new stake in Associated Banc during the fourth quarter valued at $64,000. R Squared Ltd bought a new position in Associated Banc in the 4th quarter worth about $67,000. Finally, Farther Finance Advisors LLC increased its stake in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after acquiring an additional 1,438 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the 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 completion of the sale, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.45% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Barclays increased their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Piper Sandler lifted their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. StockNews.com lowered shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat, Associated Banc currently has an average rating of “Hold” and an average price target of $27.00.

Associated Banc Price Performance

ASB opened at $24.37 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $24.67 and its 200 day simple moving average is $23.80. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.56 and a beta of 0.94. Associated Banc-Corp has a 1 year low of $19.76 and a 1 year high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating 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%. As a group, analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.78%. Associated Banc’s dividend payout ratio is currently 116.46%.

Associated Banc Company 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.