Associated Banc Corp Reduces Position in Associated Banc-Corp $ASB

Associated Banc Corp decreased its holdings in Associated Banc-Corp (NYSE:ASB) by 1.7% during the 1st quarter, HoldingsChannel reports. The fund owned 2,587,920 shares of the bank’s stock after selling 43,419 shares during the quarter. Associated Banc comprises approximately 1.8% of Associated Banc Corp’s investment portfolio, making the stock its 11th largest holding. Associated Banc Corp’s holdings in Associated Banc were worth $66,924,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Associated Banc by 6.0% during the 1st 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 in the last quarter. Millennium Management LLC increased its stake 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 purchasing an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after purchasing 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 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 worth $11,184,000 after acquiring an additional 60,758 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Associated Banc in the second quarter worth about $328,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ASB. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Truist Financial raised their price target on Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Barclays upped their price target on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Associated Banc Stock Performance

ASB stock traded up $0.21 during midday trading on Friday, hitting $30.60. 1,197,491 shares of the company traded hands, compared to its average volume of 2,323,578. Associated Banc-Corp has a twelve month low of $23.63 and a twelve month high of $31.50. The business has a 50 day simple moving average of $28.88 and a 200-day simple moving average of $27.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.13 and a beta of 0.76.

Associated Banc (NYSE:ASB) last issued its quarterly 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. 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 for the quarter, compared to the consensus estimate of $384.20 million. During the same period in the previous year, the business posted $0.59 EPS. As a group, equities research analysts predict that Associated Banc-Corp will post 2.91 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, June 1st. Associated Banc’s payout ratio is currently 33.33%.

Insider Activity

In other Associated Banc news, EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the transaction, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the completion of the transaction, the director directly owned 67,420 shares in the company, valued at approximately $1,899,895.60. This represents a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 28,299 shares of company stock worth $801,760. Corporate insiders own 0.71% of the company’s stock.

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.