Mackenzie Financial Corp Makes New Investment in Associated Banc-Corp (NYSE:ASB)

Mackenzie Financial Corp bought a new stake in Associated Banc-Corp (NYSE:ASB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,071 shares of the bank’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ASB. First Command Advisory Services Inc. acquired a new stake in Associated Banc in the third quarter valued at $29,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Associated Banc during the third quarter worth about $82,000. BKM Wealth Management LLC acquired a new position in Associated Banc during the fourth quarter worth about $92,000. NBC Securities Inc. purchased a new position in Associated Banc in the third quarter valued at about $95,000. Finally, Covestor Ltd lifted its position in shares of Associated Banc by 15.3% during the 3rd quarter. Covestor Ltd now owns 8,341 shares of the bank’s stock valued at $143,000 after acquiring an additional 1,109 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Piper Sandler boosted their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Stephens restated an “equal weight” rating and set a $23.00 target price on shares of Associated Banc in a report on Friday. Barclays upped their price target on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Raymond James raised their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.13.

Associated Banc Stock Up 0.1 %

ASB stock opened at $21.59 on Tuesday. The company has a 50 day moving average price of $20.80 and a two-hundred day moving average price of $19.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $3.25 billion, a P/E ratio of 21.81, a PEG ratio of 1.27 and a beta of 1.00. Associated Banc-Corp has a one year low of $14.47 and a one year high of $22.16.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 25th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The firm had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Associated Banc-Corp will post 2.13 EPS for the current year.

Insider Transactions at Associated Banc

In related news, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the transaction, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the sale, the director now owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The disclosure for this sale can be found here. Insiders have sold a total of 21,710 shares of company stock worth $454,897 in the last three months. Company insiders own 1.45% of the company’s stock.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.