Mackenzie Financial Corp Has $741,000 Stock Position in Associated Banc-Corp (NYSE:ASB)

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

A number of other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in Associated Banc by 2.8% during the first 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Associated Banc by 11.6% in the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock worth $118,000 after acquiring an additional 547 shares in the last quarter. FMR LLC grew its position in Associated Banc by 9.4% during the 4th quarter. FMR LLC now owns 14,838,422 shares of the bank's stock worth $354,638,000 after acquiring an additional 1,272,441 shares during the last quarter. Farther Finance Advisors LLC grew 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 worth $90,000 after acquiring an additional 1,122 shares during the last quarter. Finally, Moody Aldrich Partners LLC acquired a new stake in Associated Banc during the 1st quarter valued at $1,842,000. 82.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ASB. Piper Sandler lifted their price objective on Associated Banc from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. 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 lifted 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. Royal Bank Of Canada lifted their price objective on Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company lifted their price objective on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.78.

Associated Banc Trading Up 0.9%

ASB stock traded up $0.21 during trading on Friday, hitting $23.99. The company had a trading volume of 1,164,166 shares, compared to its average volume of 1,846,520. The firm has a 50-day moving average price of $24.50 and a 200-day moving average price of $23.48. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 0.93 and a beta of 0.84. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $28.18. 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 (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.65 EPS 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 net margin of 5.79% and a return on equity of 8.86%. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

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

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.