Invst LLC Purchases Shares of 32,098 Associated Banc-Corp $ASB

Key Points

• Invst LLC made a new investment of approximately $723,000 in Associated Banc-Corp, acquiring 32,098 shares in the first quarter.
• In institutional trading, Goldman Sachs increased its stake by 139.1%, now holding about 2.75 million shares valued at $61.9 million.
• Associated Banc-Corp plans to pay a quarterly dividend of $0.23 on September 15th, which translates to an annualized yield of 3.5%.

Invst LLC purchased a new stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,098 shares of the bank's stock, valued at approximately $723,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in Associated Banc by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 379,996 shares of the bank's stock valued at $8,561,000 after purchasing an additional 10,448 shares during the last quarter. GAMMA Investing LLC raised its position in Associated Banc by 11.6% during 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. Farther Finance Advisors LLC raised its position in Associated Banc by 38.0% during 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. HighTower Advisors LLC bought a new position in Associated Banc during the 1st quarter valued at approximately $311,000. Finally, Moody Aldrich Partners LLC bought a new position in Associated Banc during the 1st quarter valued at approximately $1,842,000. Institutional investors own 82.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays lifted their price objective on Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Friday, July 25th. Piper Sandler boosted their price objective on shares of Associated Banc from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wells Fargo & Company boosted their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Truist Financial boosted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Associated Banc currently has a consensus rating of "Hold" and an average price target of $27.78.

Associated Banc Stock Up 2.4%

Shares of Associated Banc stock traded up $0.61 during trading on Thursday, reaching $26.53. The stock had a trading volume of 375,824 shares, compared to its average volume of 1,509,766. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 0.99 and a beta of 0.84. The stock has a fifty day moving average price of $25.60 and a two-hundred day moving average price of $23.69. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $366.98 million during the quarter, compared to analysts' expectations of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter last year, the company earned $0.52 EPS. Sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Matthew R. Braeger sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the transaction, the executive vice president directly owned 13,346 shares of the company's stock, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 13,000 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $27.24, for a total transaction of $354,120.00. Following the sale, the executive vice president directly owned 111,228 shares of the company's stock, valued at $3,029,850.72. This represents a 10.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,342 shares of company stock valued at $494,360. 1.45% of the stock is owned by company insiders.

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.