Legal & General Group Plc Buys Shares of 231,357 Associated Banc-Corp $ASB

Legal & General Group Plc acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 231,357 shares of the bank’s stock, valued at approximately $7,119,000.

Other large investors have also recently modified their holdings of the company. IAG Wealth Partners LLC lifted its position in shares of Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after acquiring an additional 1,190 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Associated Banc in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC grew its position in shares of Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Associated Banc during the 3rd quarter valued at $51,000. Finally, Global Retirement Partners LLC purchased a new stake in Associated Banc during the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ASB shares. Truist Financial upped their price target on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Barclays increased their price target on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Piper Sandler reaffirmed a “neutral” rating and set a $34.00 price target on shares of Associated Banc in a research note on Wednesday, August 26th. Raymond James Financial increased their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insider Transactions at Associated Banc

In related news, EVP Derek S. Meyer sold 10,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total value of $307,400.00. Following the completion of the transaction, the executive vice president directly owned 61,662 shares in the company, valued at $1,895,489.88. This trade represents a 13.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Randall J. Erickson sold 43,561 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the completion of the sale, the executive vice president owned 56,091 shares in the company, valued at approximately $1,797,155.64. This trade represents a 43.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 87,524 shares of company stock worth $2,746,671. 0.71% of the stock is owned by insiders.

Associated Banc Price Performance

Shares of ASB stock opened at $30.60 on Thursday. The firm has a market cap of $5.78 billion, a P/E ratio of 10.70, a P/E/G ratio of 1.01 and a beta of 0.76. The business’s 50 day moving average price is $31.00 and its 200-day moving average price is $28.59. Associated Banc-Corp has a fifty-two week low of $23.86 and a fifty-two week high of $32.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The business had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. During the same period in the prior year, the business earned $0.65 EPS. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.94 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s dividend payout ratio is presently 33.57%.

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.