Associated Banc-Corp $ASB Position Increased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC increased its stake in Associated Banc-Corp (NYSE:ASB) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,395 shares of the bank’s stock after purchasing an additional 27,024 shares during the period. Crescent Grove Advisors LLC owned 0.09% of Associated Banc worth $3,668,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ASB. Norges Bank bought a new stake in shares of Associated Banc in the 4th quarter worth approximately $54,660,000. First Trust Advisors LP raised its stake in Associated Banc by 679.4% during the 3rd quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock valued at $57,171,000 after acquiring an additional 1,938,393 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Associated Banc by 4,883.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock valued at $35,625,000 after acquiring an additional 1,357,862 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Associated Banc by 32.5% during the 3rd quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock valued at $67,606,000 after acquiring an additional 645,676 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the sale, the director owned 67,420 shares of the company’s stock, valued at approximately $1,899,895.60. The trade was a 5.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the sale, the executive vice president directly owned 21,385 shares in the company, valued at $604,340.10. This represents a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is currently owned by insiders.

Associated Banc Stock Down 2.5%

ASB opened at $26.91 on Thursday. Associated Banc-Corp has a one year low of $22.48 and a one year high of $29.51. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $27.35 and its 200-day moving average is $26.78. The company has a market capitalization of $4.46 billion, a PE ratio of 9.34, a P/E/G ratio of 1.59 and a beta of 0.77.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 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 company had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same quarter in the previous year, the business earned $0.59 EPS. On average, equities analysts predict that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. Associated Banc’s payout ratio is currently 33.33%.

Analysts Set New Price Targets

Several analysts have weighed in on ASB shares. Piper Sandler lifted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $31.00 target price on shares of Associated Banc in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.30.

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.