Corient Private Wealth LP acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 86,500 shares of the bank's stock, valued at approximately $2,662,000.
A number of other institutional investors have also recently made changes to their positions in the business. IAG Wealth Partners LLC increased its position in Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank's stock valued at $31,000 after buying an additional 1,190 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Associated Banc in the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC boosted its holdings in Associated Banc by 345.5% in the second 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. CIBC Private Wealth Group LLC purchased a new stake in shares of Associated Banc during the third quarter worth about $51,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Associated Banc during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 82.98% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Raymond James Financial upped their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Piper Sandler reaffirmed a "neutral" rating and issued a $34.00 price target on shares of Associated Banc in a report on Wednesday, August 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Associated Banc in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Associated Banc from $32.00 to $36.00 and gave the company an "overweight" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.
Read Our Latest Analysis on ASB
Associated Banc Stock Down 2.3%
ASB stock opened at $29.90 on Wednesday. The company has a market capitalization of $5.65 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76. Associated Banc-Corp has a 12 month low of $23.86 and a 12 month high of $32.46. The firm's fifty day simple moving average is $31.00 and its 200-day simple moving average is $28.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93.
Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $454.54 million during the quarter, compared to analysts' expectations of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same quarter last year, the company posted $0.65 earnings per share. As a group, equities research analysts forecast that Associated Banc-Corp will post 2.94 earnings per share for the current year.
Associated Banc Announces Dividend
The business also recently disclosed 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. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc's payout ratio is 33.57%.
Insider Transactions at Associated Banc
In related news, EVP Gregory Warsek sold 16,300 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the sale, the executive vice president directly owned 13,809 shares of the company's stock, valued at $442,026.09. This trade represents a 54.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Randall J. Erickson sold 43,561 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total value of $1,395,694.44. Following the completion of the sale, the executive vice president owned 56,091 shares in the company, valued at approximately $1,797,155.64. This represents a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 87,524 shares of company stock valued at $2,746,671. 0.71% of the stock is owned by insiders.
Associated Banc Company Profile
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Free Report)
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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