Associated Banc-Corp $ASB Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its position in shares of Associated Banc-Corp (NYSE:ASB) by 32.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,629,549 shares of the bank’s stock after buying an additional 645,676 shares during the quarter. American Century Companies Inc.’s holdings in Associated Banc were worth $67,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASB. Hantz Financial Services Inc. lifted its holdings in Associated Banc by 2,033.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,139 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after purchasing an additional 408 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Associated Banc in the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in Associated Banc by 345.5% during 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 during the last quarter. Finally, First Horizon Corp bought a new stake in Associated Banc during the third quarter worth approximately $39,000. 82.98% of the stock is currently owned by institutional investors.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 2,135 shares of Associated Banc stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the sale, the executive vice president owned 109,842 shares of the company’s stock, valued at approximately $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Williams sold 2,325 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total value of $65,216.25. Following the completion of the transaction, the director owned 70,959 shares in the company, valued at $1,990,399.95. This trade represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,791 shares of company stock valued at $734,175. Insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

ASB has been the topic of several recent research reports. Barclays decreased their price target on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada lifted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. UBS Group reiterated a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Tuesday, December 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Associated Banc Stock Down 0.0%

Shares of Associated Banc stock opened at $26.35 on Thursday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $29.51. The company has a market cap of $4.37 billion, a P/E ratio of 9.51, a P/E/G ratio of 1.20 and a beta of 0.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $27.15 and a 200 day moving average price of $26.32.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, analysts expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

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

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.6%. Associated Banc’s dividend payout ratio (DPR) is 34.66%.

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.