Associated Banc-Corp (NYSE:ASB) Shares Acquired by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lifted its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,371 shares of the bank's stock after purchasing an additional 13,780 shares during the period. Crescent Grove Advisors LLC owned about 0.07% of Associated Banc worth $2,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP lifted its holdings in Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after buying an additional 651 shares during the last quarter. Covestor Ltd raised its position in Associated Banc by 221.0% in the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock valued at $36,000 after purchasing an additional 1,032 shares during the last quarter. Versant Capital Management Inc lifted its position in Associated Banc by 385.5% during the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after acquiring an additional 1,280 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after purchasing an additional 579 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Associated Banc by 13.1% during the fourth 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. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Trading Up 3.0%

ASB traded up $0.72 during trading on Tuesday, hitting $25.11. The company's stock had a trading volume of 1,396,404 shares, compared to its average volume of 1,542,834. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The stock has a market cap of $4.16 billion, a PE ratio of 29.20, a PEG ratio of 1.07 and a beta of 0.79. The firm's 50 day moving average price is $23.25 and its 200-day moving average price is $23.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.87 and a quick ratio of 0.87.

Associated Banc (NYSE:ASB - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Associated Banc had a return on equity of 8.47% and a net margin of 6.02%. The firm had revenue of $348.97 million during the quarter, compared to analyst estimates of $347.86 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business's quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.23 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.66%. Associated Banc's dividend payout ratio (DPR) is presently 106.98%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ASB shares. Barclays decreased their price target on Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Stephens lowered their price target on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Raymond James Financial reiterated an "outperform" rating and issued a $27.00 price objective on shares of Associated Banc in a research note on Monday, April 28th. Truist Financial began coverage on shares of Associated Banc in a research report on Tuesday, May 13th. They set a "hold" rating and a $26.00 target price on the stock. Finally, Wells Fargo & Company raised Associated Banc from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $27.00 to $26.00 in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.00.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, CEO Andrew J. Harmening bought 12,910 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $23.25 per share, with a total value of $300,157.50. Following the transaction, the chief executive officer owned 319,269 shares in the company, valued at $7,423,004.25. This trade represents a 4.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

About Associated Banc

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.