Mackenzie Financial Corp Acquires 23,626 Shares of Associated Banc-Corp (NYSE:ASB)

Mackenzie Financial Corp lifted its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 255.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,868 shares of the bank's stock after buying an additional 23,626 shares during the quarter. Mackenzie Financial Corp's holdings in Associated Banc were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ASB. JPMorgan Chase & Co. grew its holdings in Associated Banc by 75.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,088,796 shares of the bank's stock valued at $26,022,000 after buying an additional 467,183 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Associated Banc by 7.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 20,860 shares of the bank's stock valued at $499,000 after acquiring an additional 1,436 shares during the period. Geode Capital Management LLC grew its stake in shares of Associated Banc by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank's stock worth $92,026,000 after acquiring an additional 265,378 shares during the last quarter. Wells Fargo & Company MN increased its position in Associated Banc by 21.9% during the fourth quarter. Wells Fargo & Company MN now owns 115,710 shares of the bank's stock worth $2,765,000 after acquiring an additional 20,805 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Associated Banc by 18.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,592 shares of the bank's stock valued at $86,000 after purchasing an additional 572 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ASB. Piper Sandler raised their price target on shares of Associated Banc from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a report on Monday, April 28th. Barclays lifted their price target on shares of Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Stephens lowered their target price on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. 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 research report on Monday, July 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.78.

Associated Banc Trading Up 0.9%

Shares of Associated Banc stock traded up $0.21 during trading on Friday, reaching $23.99. 1,164,166 shares of the company were exchanged, compared to its average volume of 1,566,641. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 0.93 and a beta of 0.84. The business has a 50-day moving average price of $24.48 and a 200-day moving average price of $23.50.

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

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.8%. Associated Banc's payout ratio is presently 119.48%.

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.