Invst LLC Makes New $723,000 Investment in 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 bought a new position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,098 shares of the bank's stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock worth $61,927,000 after purchasing an additional 1,598,951 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Associated Banc by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,321,120 shares of the bank's stock valued at $52,295,000 after acquiring an additional 72,685 shares during the period. AQR Capital Management LLC boosted its position in shares of Associated Banc by 200.3% in the first quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank's stock valued at $42,853,000 after acquiring an additional 1,287,458 shares during the period. American Century Companies Inc. boosted its position in shares of Associated Banc by 12.6% in the first quarter. American Century Companies Inc. now owns 1,841,927 shares of the bank's stock valued at $41,499,000 after acquiring an additional 206,259 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $37,662,000. Institutional investors own 82.98% of the company's stock.

Insider Transactions at Associated Banc

In other news, EVP Matthew R. Braeger sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the sale, the executive vice president directly owned 13,346 shares in the company, valued at approximately $351,533.64. The trade was a 13.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Edward Ahern sold 3,342 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,086,566.40. The trade was a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,342 shares of company stock worth $494,360. 1.45% of the stock is currently owned by insiders.

Associated Banc Price Performance

ASB stock opened at $26.28 on Friday. The stock has a market cap of $4.36 billion, a PE ratio of 34.12, a P/E/G ratio of 1.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc-Corp has a one year low of $18.32 and a one year high of $28.18. The firm has a 50 day simple moving average of $25.59 and a two-hundred day simple moving average of $23.67.

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, topping analysts' consensus estimates of $0.62 by $0.03. The firm had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. During the same period in the previous year, the business posted $0.52 EPS. On average, analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Wells Fargo & Company raised their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Robert W. Baird raised their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Barclays raised their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Truist Financial boosted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "hold" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Associated Banc presently has an average rating of "Hold" and a consensus target price of $27.78.

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.

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