Invesco Ltd. Has $29.49 Million Stock Holdings in Associated Banc-Corp $ASB

Key Points

• Invesco Ltd. increased its holdings in Associated Banc-Corp by 83.2% during Q1, acquiring a total of 1,308,946 shares valued at approximately $29.5 million.
• Analysts have varying price targets for Associated Banc, with Wells Fargo raising its target to $30.00 while the consensus rating is a "Hold" with a price target of $27.78.
• Associated Banc recently announced a quarterly dividend of $0.23 per share, reflecting an annualized yield of 3.7% and a payout ratio of 119.48%.

Invesco Ltd. lifted its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 83.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,308,946 shares of the bank's stock after buying an additional 594,361 shares during the quarter. Invesco Ltd. owned about 0.79% of Associated Banc worth $29,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP grew its position in Associated Banc by 154.3% in the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after purchasing an additional 651 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 acquiring an additional 1,280 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Associated Banc by 13.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock worth $84,000 after acquiring an additional 408 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Associated Banc by 38.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock worth $90,000 after purchasing an additional 1,122 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Associated Banc by 11.6% during the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock valued at $118,000 after purchasing an additional 547 shares during the period. Institutional investors own 82.98% of the company's stock.

Associated Banc Trading Up 5.1%

Associated Banc stock traded up $1.2840 during trading hours on Friday, reaching $26.4940. 1,544,087 shares of the company's stock traded hands, compared to its average volume of 1,430,906. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 1.02 and a beta of 0.84. The firm's 50 day moving average is $24.86 and its 200-day moving average is $23.49. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18.

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

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc's dividend payout ratio (DPR) is currently 119.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ASB shares. Wells Fargo & Company boosted their price target on shares of Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and issued a $27.00 price target on shares of Associated Banc in a report on Monday, April 28th. Truist Financial boosted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a report on Monday, July 28th. Finally, Robert W. Baird upped their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock a "neutral" rating in a 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's stock. According to MarketBeat.com, the company has an average 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.