Jupiter Topco LLC acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 125,638 shares of the bank's stock, valued at approximately $3,866,000. Jupiter Topco LLC owned 0.07% of Associated Banc at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Associated Banc during the second quarter worth $715,927,000. Vanguard Group Inc. grew its position in Associated Banc by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank's stock worth $477,543,000 after purchasing an additional 545,185 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Associated Banc by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank's stock worth $253,709,000 after purchasing an additional 170,080 shares in the last quarter. State Street Corp increased its stake in Associated Banc by 1.7% in the 4th quarter. State Street Corp now owns 8,711,346 shares of the bank's stock valued at $224,404,000 after buying an additional 147,372 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Associated Banc by 127.6% during the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank's stock valued at $154,416,000 after acquiring an additional 3,347,699 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.
Associated Banc Stock Performance
Shares of ASB stock opened at $29.90 on Wednesday. The stock has a 50 day moving average price of $31.00 and a two-hundred day moving average price of $28.57. Associated Banc-Corp has a fifty-two week low of $23.86 and a fifty-two week high of $32.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $5.65 billion, a P/E ratio of 10.45, a PEG ratio of 1.03 and a beta of 0.76.
Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly 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 last year, the firm earned $0.65 EPS. Analysts expect that Associated Banc-Corp will post 2.94 earnings per share for the current year.
Associated Banc Announces Dividend
The firm 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 dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Associated Banc's dividend payout ratio is presently 33.57%.
Insider Buying and Selling at Associated Banc
In other news, EVP Nicole M. Kitowski sold 7,663 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 approximately $1,401,057.57. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derek S. Meyer sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total value of $307,400.00. Following the transaction, the executive vice president owned 61,662 shares of the company's stock, valued at approximately $1,895,489.88. This represents a 13.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 87,524 shares of company stock worth $2,746,671 over the last three months. 0.71% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $34.00 price objective on shares of Associated Banc in a research report on Wednesday, August 26th. Raymond James Financial boosted their price objective on 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 increased their target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Associated Banc in a report on Wednesday, June 24th. Finally, Truist Financial boosted their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.00.
Read Our Latest Research Report on Associated Banc
Associated Banc Company Profile
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Free Report)
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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