Associated Banc Corp Has $67.78 Million Stock Holdings in Associated Banc-Corp $ASB

Key Points

• Associated Banc Corp increased its stake in Associated Banc-Corp by 7.5% in the fourth quarter, bringing its holdings to 2.63 million shares valued at about $67.8 million.
• Associated Banc reported Q1 earnings of $0.70 per share, slightly ahead of expectations, and posted revenue of $387.21 million versus estimates of $384.20 million.
• The bank declared a quarterly dividend of $0.24 per share and authorized a $100 million share repurchase plan, while analysts currently rate the stock a “Moderate Buy” with an average price target of $30.30.

Associated Banc Corp raised its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,631,339 shares of the bank's stock after purchasing an additional 182,623 shares during the period. Associated Banc comprises 1.7% of Associated Banc Corp's portfolio, making the stock its 10th biggest position. Associated Banc Corp owned 1.59% of Associated Banc worth $67,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ASB. EverSource Wealth Advisors LLC raised its position in shares of Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank's stock worth $33,000 after acquiring an additional 1,047 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank's stock worth $33,000 after acquiring an additional 408 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Associated Banc in the 3rd quarter worth $51,000. Hoese & Co LLP bought a new position in shares of Associated Banc in the 4th quarter worth $52,000. Finally, Bessemer Group Inc. raised its position in shares of Associated Banc by 55.5% in the 3rd quarter. Bessemer Group Inc. now owns 2,074 shares of the bank's stock worth $54,000 after acquiring an additional 740 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $28.02 on Friday. The business has a 50 day simple moving average of $26.84 and a two-hundred day simple moving average of $26.64. Associated Banc-Corp has a 12 month low of $22.40 and a 12 month high of $29.51. The stock has a market capitalization of $4.65 billion, a P/E ratio of 9.73, a PEG ratio of 1.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $387.21 million during the quarter, compared to analysts' expectations of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, analysts predict that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.4%. Associated Banc's dividend payout ratio is 33.33%.

Associated Banc announced that its board has initiated a share repurchase plan on Tuesday, January 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on ASB shares. Stephens upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $30.00 to $29.00 in a research note on Friday, March 27th. Truist Financial boosted their target price on Associated Banc from $27.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, April 27th. Wall Street Zen downgraded Associated Banc from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Piper Sandler boosted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Finally, Robert W. Baird boosted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $30.30.

Insider Activity

In other news, Director John B. Williams sold 4,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 67,420 shares in the company, valued at $1,899,895.60. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

Associated Banc Profile

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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