Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Associated Banc-Corp $ASB

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 50.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,433 shares of the bank’s stock after purchasing an additional 42,133 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.08% of Associated Banc worth $3,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after acquiring an additional 136,648 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Associated Banc by 139.1% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Associated Banc by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock valued at $11,184,000 after acquiring an additional 60,758 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Associated Banc in the second quarter valued at $328,000. Institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James Financial restated an “outperform” rating and issued a $30.00 price objective (up from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Piper Sandler raised their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Barclays cut their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada upped their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and an average target price of $29.20.

Associated Banc Trading Up 0.7%

NYSE:ASB opened at $28.55 on Friday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 10.31, a PEG ratio of 1.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. Associated Banc-Corp has a one year low of $18.32 and a one year high of $29.51. The company’s 50-day simple moving average is $27.09 and its 200 day simple moving average is $26.16.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The business had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

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

Associated Banc announced that its board has approved a share buyback plan on Tuesday, January 27th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Patrick Edward Ahern sold 14,731 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total value of $427,640.93. Following the sale, the executive vice president directly owned 39,401 shares of the company’s stock, valued at approximately $1,143,811.03. This represents a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Williams sold 2,325 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total transaction of $65,216.25. Following the completion of the transaction, the director owned 70,959 shares in the company, valued at approximately $1,990,399.95. The trade was a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 59,607 shares of company stock valued at $1,603,545. 1.45% of the stock is owned by insiders.

Associated Banc Profile

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.