Leeward Investments LLC MA Purchases New Position in Associated Banc-Corp (NYSE:ASB)

Leeward Investments LLC MA bought a new position in Associated Banc-Corp (NYSE:ASB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 547,958 shares of the bank's stock, valued at approximately $12,345,000. Leeward Investments LLC MA owned approximately 0.33% of Associated Banc at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Quarry LP raised its stake in Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after buying an additional 651 shares during the period. Covestor Ltd grew its holdings in shares of Associated Banc by 221.0% in the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock valued at $36,000 after acquiring an additional 1,032 shares in the last quarter. Versant Capital Management Inc grew its holdings 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 acquiring an additional 1,280 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock valued at $42,000 after acquiring an additional 579 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Associated Banc by 13.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock valued at $84,000 after purchasing an additional 408 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.

Insider Buying and Selling

In other news, CEO Andrew J. Harmening acquired 12,910 shares of the firm's stock in a transaction on Friday, May 9th. The shares were purchased at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the transaction, the chief executive officer owned 319,269 shares of the company's stock, valued at $7,423,004.25. The trade was a 4.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Associated Banc in a research report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price objective for the company. Stephens decreased their price objective on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Barclays decreased their target price on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $27.00 price objective on shares of Associated Banc in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $26.44.

Associated Banc Price Performance

NYSE:ASB traded down $0.33 during trading hours on Monday, hitting $25.53. The stock had a trading volume of 1,517,783 shares, compared to its average volume of 1,549,532. The company has a 50 day simple moving average of $23.57 and a two-hundred day simple moving average of $23.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.87 and a quick ratio of 0.87. Associated Banc-Corp has a one year low of $18.32 and a one year high of $28.18. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 1.13 and a beta of 0.80.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $348.97 million for the quarter, compared to analysts' expectations of $347.86 million. Associated Banc had a net margin of 6.02% and a return on equity of 8.47%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Monday, June 2nd. Associated Banc's payout ratio is presently 106.98%.

Associated Banc 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.