Bearing Point Capital LLC Takes Position in Associated Banc-Corp $ASB

Bearing Point Capital LLC bought a new stake in Associated Banc-Corp (NYSE:ASB) in the fourth quarter, HoldingsChannel.com reports. The firm bought 22,496 shares of the bank’s stock, valued at approximately $579,000.

A number of other institutional investors also recently modified their holdings of ASB. Norges Bank bought a new stake in shares of Associated Banc in the fourth quarter valued at about $54,660,000. First Trust Advisors LP boosted its position in shares of Associated Banc by 679.4% in the third 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 during the period. Goldman Sachs Group Inc. boosted its position 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. Balyasny Asset Management L.P. boosted its position in shares of Associated Banc by 4,883.7% in the third 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 during the period. Finally, American Century Companies Inc. raised its stake in Associated Banc by 32.5% in the third quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock valued at $67,606,000 after purchasing an additional 645,676 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

ASB has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Stephens raised Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $30.00 to $29.00 in a research note on Friday, March 27th. Barclays raised Associated Banc from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $33.00 in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their price target on Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.30.

Associated Banc Stock Down 0.0%

Shares of NYSE ASB opened at $27.83 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 1.61 and a beta of 0.79. Associated Banc-Corp has a 12 month low of $22.48 and a 12 month high of $29.51. The stock has a 50-day moving average price of $27.19 and a two-hundred day moving average price of $26.74.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $387.21 million during the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.4%. Associated Banc’s payout ratio is presently 33.33%.

Insider Activity

In other Associated Banc news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the completion of the transaction, the executive vice president owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. The trade was a 40.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is currently owned by insiders.

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.