Associated Banc-Corp $ASB is Associated Banc Corp’s 10th Largest Position

Associated Banc Corp increased its holdings in Associated Banc-Corp (NYSE:ASB) by 7.5% in the 4th quarter, HoldingsChannel reports. The fund owned 2,631,339 shares of the bank’s stock after purchasing an additional 182,623 shares during the quarter. Associated Banc makes up approximately 1.7% of Associated Banc Corp’s holdings, making the stock its 10th biggest holding. Associated Banc Corp’s holdings in Associated Banc were worth $67,783,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after acquiring an additional 408 shares during the period. EverSource Wealth Advisors LLC grew its position in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after acquiring an additional 1,047 shares during the period. CIBC Private Wealth Group LLC purchased a new position in Associated Banc in the third quarter worth approximately $51,000. Hoese & Co LLP purchased a new position in Associated Banc in the fourth quarter worth approximately $52,000. Finally, Bessemer Group Inc. grew its position in Associated Banc by 55.5% in the third quarter. Bessemer Group Inc. now owns 2,074 shares of the bank’s stock worth $54,000 after acquiring an additional 740 shares during the period. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total transaction of $112,720.00. Following the transaction, the director owned 67,420 shares of the company’s stock, valued at $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Truist Financial raised their price target on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Stephens upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $30.00 to $29.00 in a research report on Friday, March 27th. Piper Sandler raised their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.30.

Associated Banc Stock Performance

NYSE ASB opened at $28.02 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a 52-week low of $22.40 and a 52-week high of $29.51. The business’s 50-day moving average price is $26.84 and its 200 day moving average price is $26.64. The firm has a market cap of $4.65 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.62 and a beta of 0.79.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The firm had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same quarter last year, the company posted $0.59 earnings per share. On average, equities research analysts expect that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.4%. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Associated Banc Company 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.