Associated Banc-Corp $ASB Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Associated Banc-Corp by 41.3%, acquiring an additional 32,660 shares, bringing their total ownership to 111,733 shares valued at approximately $2.5 million.
• Insider executives sold a total of 18,342 shares worth around $494,360 in the past 90 days, indicating a potential shift in management's view on the company's stock.
• Associated Banc announced a quarterly dividend of $0.23, resulting in an annualized yield of 3.6%, despite a current dividend payout ratio of over 119%.

Intech Investment Management LLC boosted its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 41.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,733 shares of the bank's stock after acquiring an additional 32,660 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Associated Banc worth $2,517,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Associated Banc by 385.5% during the first 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 last quarter. Quarry LP boosted its position in shares of Associated Banc by 77.7% during the first quarter. Quarry LP now owns 1,907 shares of the bank's stock valued at $43,000 after buying an additional 834 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Associated Banc by 17.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank's stock valued at $83,000 after buying an additional 559 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Associated Banc by 38.0% during the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock valued at $90,000 after buying an additional 1,122 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Associated Banc by 11.6% during the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock valued at $118,000 after buying an additional 547 shares during the period. 82.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Associated Banc Stock Up 2.5%

Shares of ASB traded up $0.65 during midday trading on Thursday, hitting $26.57. 1,224,359 shares of the company's stock traded hands, compared to its average volume of 1,514,995. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The firm's fifty day moving average is $25.60 and its 200-day moving average is $23.69. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 0.99 and a beta of 0.84.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The firm had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 2nd. Associated Banc's dividend payout ratio is currently 119.48%.

Insider Activity

In other news, EVP Patrick Edward Ahern sold 3,342 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total transaction of $87,560.40. Following the completion of the sale, the executive vice president owned 41,472 shares in the company, valued at approximately $1,086,566.40. This represents a 7.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John A. Utz sold 13,000 shares of the 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 sale, the executive vice president owned 111,228 shares of the company's stock, valued at approximately $3,029,850.72. This represents a 10.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,342 shares of company stock worth $494,360. Insiders own 1.45% of the company's stock.

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.