Universal Beteiligungs und Servicegesellschaft mbH Has $8.19 Million Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Associated Banc-Corp by 11.0%, bringing its total ownership to approximately $8.2 million.
• Wells Fargo & Company raised its target price on Associated Banc from $28.00 to $30.00, indicating an "overweight" rating, while Royal Bank of Canada also elevated its target from $26.00 to $27.00.
• CEO Andrew J. Harmening purchased 12,910 shares at an average price of $23.25, increasing his ownership stake by 4.21% to over $7.4 million in value.

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Associated Banc-Corp (NYSE:ASB - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 363,714 shares of the bank's stock after buying an additional 36,055 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.22% of Associated Banc worth $8,194,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Associated Banc by 8.7% in the 4th quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock worth $431,798,000 after purchasing an additional 1,444,068 shares in the last quarter. FMR LLC increased its stake in Associated Banc by 9.4% in the 4th quarter. FMR LLC now owns 14,838,422 shares of the bank's stock worth $354,638,000 after buying an additional 1,272,441 shares during the period. Geode Capital Management LLC grew its holdings in Associated Banc by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank's stock worth $92,026,000 after acquiring an additional 265,378 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Associated Banc by 19.9% in the 4th quarter. Northern Trust Corp now owns 2,182,882 shares of the bank's stock valued at $52,171,000 after buying an additional 362,267 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Associated Banc by 87.7% in the 4th quarter. First Trust Advisors LP now owns 1,997,553 shares of the bank's stock worth $47,742,000 after purchasing an additional 933,062 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently 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 report on Friday, April 25th. Barclays increased their price target on shares of Associated Banc from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Monday. Raymond James Financial reiterated an "outperform" rating and issued a $27.00 price target on shares of Associated Banc in a research note on Monday, April 28th. Piper Sandler increased their price objective on Associated Banc from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $27.78.

Associated Banc Stock Down 0.3%

NYSE ASB traded down $0.07 during trading on Wednesday, reaching $25.16. 1,768,782 shares of the company's stock were exchanged, compared to its average volume of 1,653,822. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The firm has a market capitalization of $4.17 billion, a PE ratio of 32.68, a P/E/G ratio of 0.93 and a beta of 0.80. 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's fifty day simple moving average is $24.36 and its 200-day simple moving average is $23.53.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.03. The business had revenue of $366.98 million for the quarter, compared to the consensus estimate 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 last year, the business earned $0.52 EPS. Sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, September 2nd. Associated Banc's dividend payout ratio is 119.48%.

Insider Buying and Selling

In other news, CEO Andrew J. Harmening bought 12,910 shares of the company's stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the transaction, the chief executive officer directly owned 319,269 shares in the company, valued at $7,423,004.25. The trade was a 4.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.45% of the stock is currently owned by corporate insiders.

Associated Banc 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.