Fox Run Management L.L.C. Purchases New Position in Associated Banc-Corp $ASB

Key Points

• Fox Run Management L.L.C. acquired 10,315 shares of Associated Banc-Corp valued at approximately $232,000 during the 1st quarter of the year.
• Various institutional investors modified their holdings in Associated Banc, with 82.98% of the stock now owned by such investors.
• Associated Banc-Corp reported earnings per share of $0.65 for the quarter, exceeding analysts' expectations and indicating a year-over-year increase from $0.52 EPS.

Fox Run Management L.L.C. bought a new stake in Associated Banc-Corp (NYSE:ASB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 10,315 shares of the bank's stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASB. Quarry LP grew its stake in Associated Banc by 154.3% in the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock valued at $26,000 after buying an additional 651 shares during the last quarter. Versant Capital Management Inc grew its stake in Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock valued at $36,000 after buying an additional 1,280 shares during the last quarter. NewEdge Advisors LLC grew its stake in Associated Banc by 13.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock valued at $84,000 after buying an additional 408 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock valued at $90,000 after buying an additional 1,122 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Associated Banc by 11.6% in the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock valued at $118,000 after buying an additional 547 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Price Performance

NYSE:ASB traded up $0.37 during mid-day trading on Tuesday, hitting $26.73. The company's stock had a trading volume of 1,173,470 shares, compared to its average volume of 1,358,767. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 1.02 and a beta of 0.84. The stock has a fifty day moving average of $25.01 and a 200-day moving average of $23.51.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. The firm had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. As a group, equities analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc's dividend payout ratio is 119.48%.

Analyst Ratings Changes

A number of research firms recently issued reports on ASB. Truist Financial raised their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Monday, July 28th. Robert W. Baird raised their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Raymond James Financial restated an "outperform" rating and issued a $27.00 price target on shares of Associated Banc in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock a "market perform" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.78.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.