Deutsche Bank AG Makes New $4.74 Million Investment in Associated Banc-Corp $ASB

Key Points

• Deutsche Bank initiated a $4.74 million position in Associated Banc-Corp during the second quarter, purchasing 154,110 shares. Institutional investors and hedge funds collectively own 82.98% of the company.
• Associated Banc exceeded quarterly expectations, reporting $0.73 EPS versus the $0.72 consensus and revenue of $454.54 million versus estimates of $438.01 million. The bank also declared a quarterly dividend of $0.24 per share, yielding approximately 3.1% annually.
• Analyst sentiment remains generally positive, with the stock holding a “Moderate Buy” consensus rating and an average price target of $31.60. However, insiders sold 87,524 shares worth about $2.75 million over the past 90 days.

Deutsche Bank AG purchased a new position 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 purchased 154,110 shares of the bank's stock, valued at approximately $4,742,000. Deutsche Bank AG owned approximately 0.08% of Associated Banc as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC boosted its position in Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank's stock worth $31,000 after purchasing an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Associated Banc in the third quarter worth $51,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Associated Banc in the fourth quarter worth $56,000. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Stock Down 0.2%

ASB opened at $30.85 on Wednesday. The business has a 50 day moving average of $30.87 and a 200-day moving average of $28.51. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.05 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. Associated Banc-Corp has a 1-year low of $23.86 and a 1-year high of $32.46.

Associated Banc (NYSE:ASB - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The business had revenue of $454.54 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Associated Banc's dividend payout ratio (DPR) is currently 33.57%.

Insider Activity at Associated Banc

In other news, EVP Derek S. Meyer sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total transaction of $307,400.00. Following the transaction, the executive vice president owned 61,662 shares in the company, valued at approximately $1,895,489.88. The trade was a 13.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicole M. Kitowski sold 7,663 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total transaction of $236,863.33. Following the transaction, the executive vice president directly owned 45,327 shares of the company's stock, valued at $1,401,057.57. This represents a 14.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 87,524 shares of company stock worth $2,746,671. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ASB shares. Raymond James Financial raised their target price 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. Wells Fargo & Company boosted their target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Weiss Ratings restated a "buy (b)" rating on shares of Associated Banc in a report on Wednesday, June 24th. Truist Financial upped their price target on shares of Associated Banc from $32.00 to $33.00 and gave the company a "hold" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen downgraded Associated Banc from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Associated Banc presently has an average rating of "Moderate Buy" and an average target price of $31.60.

Associated Banc Company 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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