NFJ Investment Group LLC bought a new stake in Associated Banc-Corp (NYSE:ASB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 97,855 shares of the bank's stock, valued at approximately $3,011,000. NFJ Investment Group LLC owned 0.05% of Associated Banc at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. West Family Investments Inc. bought a new position in shares of Associated Banc in the 2nd quarter worth $512,000. Meeder Advisory Services Inc. bought a new position in shares of Associated Banc in the second quarter valued at approximately $208,000. Pzena Investment Management LLC purchased a new position in shares of Associated Banc during the second quarter valued at approximately $61,240,000. Citizens Financial Group Inc. RI bought a new stake in Associated Banc during the second quarter worth $229,000. Finally, BlackRock Inc. bought a new stake in Associated Banc during the second quarter worth $715,927,000. Institutional investors and hedge funds own 82.98% of the company's stock.
Insiders Place Their Bets
In other Associated Banc news, EVP Randall J. Erickson sold 43,561 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the sale, the executive vice president owned 56,091 shares of the company's stock, valued at $1,797,155.64. The trade was a 43.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicole M. Kitowski sold 7,663 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the sale, the executive vice president owned 45,327 shares in the company, valued at approximately $1,401,057.57. This represents a 14.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,823 shares of company stock worth $3,150,761 in the last three months. Insiders own 0.71% of the company's stock.
Wall Street Analyst Weigh In
ASB has been the topic of several recent analyst reports. Wall Street Zen cut Associated Banc from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Associated Banc in a research note on Wednesday, June 24th. Piper Sandler boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Raymond James Financial upped their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Finally, Robert W. Baird increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.60.
View Our Latest Stock Report on Associated Banc
Associated Banc Price Performance
NYSE ASB opened at $30.71 on Friday. The company has a market cap of $5.80 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm's 50-day simple moving average is $30.78 and its two-hundred day simple moving average is $28.45.
Associated Banc (NYSE:ASB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million during the quarter, compared to the consensus estimate of $438.01 million. During the same quarter last year, the company earned $0.65 earnings per share. Research analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.
Associated Banc Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc's dividend payout ratio (DPR) is 33.57%.
About Associated Banc
(
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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