Ieq Capital LLC Takes $744,000 Position in Associated Banc-Corp $ASB

Key Points

• Ieq Capital LLC has invested approximately $744,000 in Associated Banc-Corp by acquiring 33,031 shares during the first quarter.
• Analysts have recently adjusted their price targets for ASB, with Barclays raising it from $28.00 to $30.00 and maintaining an "equal weight" rating for the stock.
• Associated Banc-Corp declared a quarterly dividend of $0.23 per share, representing a yield of 3.5%, to be paid on September 15th.

Ieq Capital LLC acquired a new stake in Associated Banc-Corp (NYSE:ASB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,031 shares of the bank's stock, valued at approximately $744,000.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock valued at $36,000 after buying an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Associated Banc by 17.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank's stock worth $83,000 after buying an additional 559 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock valued at $90,000 after purchasing an additional 1,122 shares during the last quarter. GAMMA Investing LLC lifted its stake in Associated Banc by 11.6% in the 1st 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 last quarter. Finally, NBC Securities Inc. lifted its position in Associated Banc by 111,480.0% during the first quarter. NBC Securities Inc. now owns 5,579 shares of the bank's stock worth $125,000 after acquiring an additional 5,574 shares during the last quarter. Institutional investors own 82.98% of the company's stock.

Analyst Ratings Changes

ASB has been the subject of a number of analyst reports. Truist Financial lifted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Monday, July 28th. Royal Bank Of Canada boosted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped 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. Barclays upped their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Finally, Robert W. Baird upped their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Associated Banc has a consensus rating of "Hold" and a consensus target price of $27.78.

Insider Buying and Selling

In related news, EVP John A. Utz sold 13,000 shares of Associated Banc stock in a transaction on Friday, August 29th. The shares were sold at an average price of $27.24, for a total value of $354,120.00. Following the transaction, the executive vice president owned 111,228 shares in the company, valued at $3,029,850.72. This trade represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.45% of the stock is currently owned by insiders.

Associated Banc Price Performance

NYSE ASB traded down $0.09 on Friday, hitting $26.61. The stock had a trading volume of 1,564,943 shares, compared to its average volume of 1,082,874. The firm has a 50-day moving average of $25.49 and a 200-day moving average of $23.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 1.03 and a beta of 0.84. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. The company had revenue of $366.98 million for the quarter, compared to analysts' expectations of $362.78 million. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. During the same quarter last year, the company earned $0.52 EPS. Equities analysts expect that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, September 2nd. Associated Banc's dividend payout ratio (DPR) is presently 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.