212,313 Shares in Associated Banc-Corp $ASB Bought by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital purchased 212,313 shares of Associated Banc-Corp, valued at approximately $5.49 million, giving it a 0.13% stake. Institutional investors collectively own 82.98% of the company.
• Analysts maintain a cautiously positive outlook, with Associated Banc carrying a “Moderate Buy” consensus rating and an average price target of $31.00.
• Associated Banc exceeded quarterly earnings expectations with $0.73 EPS versus $0.72 forecast and announced a quarterly dividend of $0.24 per share, representing a 3.1% annualized yield.

Arrowstreet Capital Limited Partnership bought a new stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 212,313 shares of the bank's stock, valued at approximately $5,490,000. Arrowstreet Capital Limited Partnership owned approximately 0.13% of Associated Banc as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Associated Banc by 134.1% during the 1st quarter. Sei Investments Co. now owns 433,405 shares of the bank's stock valued at $11,208,000 after acquiring an additional 248,265 shares during the period. Associated Banc Corp raised its stake in Associated Banc by 7.5% during the 4th quarter. Associated Banc Corp now owns 2,631,339 shares of the bank's stock worth $67,783,000 after acquiring an additional 182,623 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in Associated Banc by 159.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank's stock valued at $6,356,000 after purchasing an additional 150,998 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Associated Banc by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank's stock valued at $477,543,000 after purchasing an additional 545,185 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Associated Banc by 1.1% in the fourth quarter. LSV Asset Management now owns 3,663,163 shares of the bank's stock worth $94,363,000 after purchasing an additional 38,900 shares during the period. Institutional investors own 82.98% of the company's stock.

Wall Street Analysts Forecast Growth

ASB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Raymond James Financial upped their target price on shares of Associated Banc from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Zacks Research lowered Associated Banc from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Wall Street Zen cut Associated Banc from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Truist Financial boosted their price objective on Associated Banc from $30.00 to $32.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Associated Banc currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Associated Banc Trading Up 0.0%

Shares of Associated Banc stock opened at $30.88 on Monday. Associated Banc-Corp has a twelve month low of $23.63 and a twelve month high of $31.83. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $29.75 and a 200-day moving average price of $27.98. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.05 and a beta of 0.77.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The company had revenue of $450.44 million during the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period in the prior year, the company earned $0.65 earnings per share. Equities research analysts anticipate that Associated Banc-Corp will post 2.9 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Associated Banc's payout ratio is 33.57%.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP Matthew R. Braeger sold 5,000 shares of Associated Banc stock in a transaction on Tuesday, June 9th. The shares were 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 directly owned 11,777 shares of the company's stock, valued at $331,758.09. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president owned 118,156 shares in the company, valued at $3,405,255.92. This trade represents a 4.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 41,962 shares of company stock worth $1,233,303. 0.71% of the stock is currently owned by corporate insiders.

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.

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