10,315 Shares in Associated Banc-Corp $ASB Purchased by Fox Run Management L.L.C.

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. acquired a new position in Associated Banc-Corp (NYSE:ASB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,315 shares of the bank's stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC bought a new stake in shares of Associated Banc in the 1st quarter worth approximately $292,000. Russell Investments Group Ltd. grew its holdings in Associated Banc by 7.5% during the first quarter. Russell Investments Group Ltd. now owns 30,330 shares of the bank's stock valued at $683,000 after purchasing an additional 2,117 shares during the period. HighTower Advisors LLC purchased a new stake in Associated Banc in the first quarter worth $311,000. Nuveen LLC bought a new stake in shares of Associated Banc in the first quarter valued at $23,510,000. Finally, Invesco Ltd. lifted its position in shares of Associated Banc by 83.2% during the 1st quarter. Invesco Ltd. now owns 1,308,946 shares of the bank's stock valued at $29,491,000 after buying an additional 594,361 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stephens cut their target price on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Raymond James Financial reissued an "outperform" rating and set a $27.00 price objective on shares of Associated Banc in a research note on Monday, April 28th. Wells Fargo & Company boosted their target price on Associated Banc from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Truist Financial raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on Associated Banc from $27.00 to $28.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $27.78.

Associated Banc Stock Up 0.7%

ASB opened at $25.3050 on Thursday. The business's fifty day simple moving average is $24.75 and its 200 day simple moving average is $23.49. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.20 billion, a PE ratio of 32.86, a P/E/G ratio of 0.97 and a beta of 0.84.

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

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Associated Banc's dividend payout ratio (DPR) is presently 119.48%.

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.

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