Charles Schwab Investment Management Inc. Increases Holdings in Associated Banc-Corp $ASB

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Associated Banc-Corp by 3.2%, owning approximately 1.40% of the company's shares worth $52.3 million as of the latest filing.
• Associated Banc-Corp reported $0.65 earnings per share for the last quarter, exceeding estimates, with revenue of $366.98 million compared to expected figures.
• The firm also announced a quarterly dividend of $0.23 per share, equating to an annual yield of 3.7%, with 82.98% of the stock owned by institutional investors.

Charles Schwab Investment Management Inc. increased its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,321,120 shares of the bank's stock after acquiring an additional 72,685 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.40% of Associated Banc worth $52,295,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hancock Whitney Corp grew its holdings in shares of Associated Banc by 0.7% during the fourth quarter. Hancock Whitney Corp now owns 58,001 shares of the bank's stock worth $1,386,000 after purchasing an additional 401 shares during the last quarter. NewEdge Advisors LLC lifted its position in Associated Banc by 13.1% in the fourth quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock valued at $84,000 after purchasing an additional 408 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Associated Banc by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 33,238 shares of the bank's stock valued at $749,000 after purchasing an additional 500 shares during the period. GAMMA Investing LLC lifted its position in Associated Banc by 11.6% in 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. Finally, Mariner LLC lifted its position in shares of Associated Banc by 3.3% during the 4th quarter. Mariner LLC now owns 17,882 shares of the bank's stock valued at $427,000 after acquiring an additional 566 shares during the period. Hedge funds and other institutional investors own 82.98% of the company's stock.

Analyst Ratings Changes

ASB has been the subject of a number of research reports. Piper Sandler lifted their price target on shares of Associated Banc from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and set a $27.00 price target on shares of Associated Banc in a research report on Monday, April 28th. Robert W. Baird lifted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays raised their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.78.

Associated Banc Trading Down 0.5%

ASB stock traded down $0.1350 during midday trading on Thursday, hitting $25.1950. The stock had a trading volume of 645,310 shares, compared to its average volume of 1,508,625. The firm has a market cap of $4.18 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc-Corp has a 12-month low of $18.32 and a 12-month high of $28.18. The company's 50-day moving average price is $24.79 and its 200 day moving average price is $23.49.

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

Associated Banc Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.7%. Associated Banc's payout ratio is currently 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.