Y Intercept Hong Kong Ltd Acquires New Stake in Associated Banc-Corp $ASB

Y Intercept Hong Kong Ltd bought a new position in shares of Associated Banc-Corp (NYSE:ASB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 50,119 shares of the bank’s stock, valued at approximately $1,289,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meritage Portfolio Management bought a new stake in shares of Associated Banc in the 2nd quarter worth approximately $469,000. Greenleaf Trust grew its position in Associated Banc by 6.2% in the second quarter. Greenleaf Trust now owns 12,103 shares of the bank’s stock worth $295,000 after buying an additional 704 shares during the last quarter. Pzena Investment Management LLC increased its holdings 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 valued at $45,354,000 after buying an additional 71,676 shares in the last quarter. Leeward Investments LLC MA lifted its position in shares of Associated Banc by 39.7% during the 2nd quarter. Leeward Investments LLC MA now owns 765,504 shares of the bank’s stock valued at $18,671,000 after acquiring an additional 217,546 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Associated Banc during the 2nd quarter valued at $210,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Trading Down 0.3%

NYSE:ASB opened at $27.26 on Friday. The stock has a market cap of $4.52 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 1.26 and a beta of 0.79. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50-day moving average is $26.45 and its two-hundred day moving average is $25.84.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $382.06 million. During the same period last year, the company posted $0.72 earnings per share. As a group, equities research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, March 2nd. Associated Banc’s payout ratio is currently 34.66%.

Associated Banc declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASB. UBS Group restated a “buy” rating and issued a $28.00 target price on shares of Associated Banc in a report on Tuesday, December 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 23rd. Barclays decreased their target price on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Sunday. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.20.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president directly owned 109,842 shares of the company’s stock, valued at $2,900,927.22. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick Edward Ahern sold 30,489 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.70, for a total value of $783,567.30. Following the sale, the executive vice president directly owned 24,055 shares of the company’s stock, valued at $618,213.50. This trade represents a 55.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,951 shares of company stock worth $925,756 over the last ninety days. 1.45% of the stock is currently owned by company 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.