SG Americas Securities LLC Acquires Shares of 452,607 Associated Banc-Corp $ASB

SG Americas Securities LLC acquired a new stake in Associated Banc-Corp (NYSE:ASB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 452,607 shares of the bank’s stock, valued at approximately $11,659,000. SG Americas Securities LLC owned about 0.27% of Associated Banc at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Associated Banc by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC increased its position in Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after acquiring an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Associated Banc by 139.1% in the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Associated Banc by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock valued at $11,184,000 after acquiring an additional 60,758 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Associated Banc in the 2nd quarter worth about $328,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Down 2.0%

Shares of NYSE:ASB opened at $24.86 on Friday. The business’s 50 day moving average is $26.68 and its 200 day moving average is $26.15. The stock has a market cap of $4.11 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $29.51. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81.

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

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.9%. Associated Banc’s dividend payout ratio is 34.66%.

Associated Banc announced that its board has authorized a share repurchase program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial dropped their price target on shares of Associated Banc from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised Associated Banc from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Stephens upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $30.00 to $29.00 in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Insiders Place Their Bets

In other Associated Banc news, Director Eileen A. Kamerick sold 6,600 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the transaction, the director directly owned 49,264 shares in the company, valued at $1,380,377.28. This represents a 11.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Edward Ahern sold 14,731 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total transaction of $427,640.93. Following the transaction, the executive vice president directly owned 39,401 shares in the company, valued at $1,143,811.03. This trade represents a 27.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,656 shares of company stock worth $677,789 in the last three months. Corporate insiders own 0.71% of the company’s stock.

Associated Banc 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.