Aigen Investment Management LP Purchases Shares of 19,789 Associated Banc-Corp $ASB

Aigen Investment Management LP purchased a new stake in shares of Associated Banc-Corp (NYSE:ASB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,789 shares of the bank’s stock, valued at approximately $510,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after acquiring an additional 5,531 shares during the last quarter. Millennium Management LLC grew 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. grew its position in Associated Banc by 139.1% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Associated Banc by 13.9% during 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 last quarter. Finally, Sivia Capital Partners LLC bought a new position in Associated Banc during the second quarter valued at approximately $328,000. 82.98% of the stock is currently owned by institutional investors.

Associated Banc Stock Performance

Shares of ASB stock opened at $29.22 on Tuesday. The stock has a fifty day moving average of $27.84 and a 200 day moving average of $26.97. Associated Banc-Corp has a 52 week low of $22.48 and a 52 week high of $29.96. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.71 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $384.20 million. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, research analysts expect that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. Associated Banc’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ASB. Raymond James Financial restated an “outperform” rating and issued a $31.00 target price on shares of Associated Banc in a report on Monday, April 27th. Piper Sandler raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Barclays upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $33.00 in a report on Tuesday, April 7th. Truist Financial raised their target price on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company raised their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Associated Banc has a consensus rating of “Moderate Buy” and a consensus price target of $30.30.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president owned 11,777 shares of the company’s stock, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. This represents a 4.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,299 shares of company stock worth $801,760. 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.