Quantinno Capital Management LP Increases Stock Position in Associated Banc-Corp $ASB

Key Points

• Quantinno Capital Management increased its Associated Banc-Corp stake by 193.1% in the first quarter, holding 133,184 shares worth approximately $3.44 million. Institutional investors collectively own 82.98% of the bank.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $31.10; recent targets range as high as $35.00.
• Associated Banc-Corp exceeded quarterly earnings expectations, reporting $0.73 in EPS versus $0.72 expected and $454.54 million in revenue. The company also declared a quarterly dividend of $0.24 per share, representing a 3.1% annualized yield.

Quantinno Capital Management LP lifted its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 193.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,184 shares of the bank's stock after acquiring an additional 87,751 shares during the quarter. Quantinno Capital Management LP owned 0.08% of Associated Banc worth $3,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. IAG Wealth Partners LLC lifted its position in Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank's stock valued at $31,000 after purchasing an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Associated Banc in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its position in Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank's stock worth $33,000 after purchasing an additional 1,047 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Associated Banc during the 3rd quarter valued at $51,000. Finally, Global Retirement Partners LLC purchased a new stake in Associated Banc during the 4th quarter valued at $56,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total transaction of $404,089.74. Following the transaction, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew R. Braeger sold 5,000 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president directly owned 11,777 shares of the company's stock, valued at $331,758.09. This represents a 29.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,962 shares of company stock valued at $1,233,303. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Associated Banc from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Associated Banc in a report on Wednesday, June 24th. Barclays upped their price objective on Associated Banc from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their target price on Associated Banc from $30.00 to $31.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, Raymond James Financial raised their target price on Associated Banc from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Associated Banc presently has a consensus rating of "Moderate Buy" and an average price target of $31.10.

Associated Banc Stock Performance

Shares of ASB opened at $31.28 on Friday. 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 business has a 50-day simple moving average of $30.09 and a two-hundred day simple moving average of $28.14. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.06 and a beta of 0.77. Associated Banc-Corp has a 52 week low of $23.66 and a 52 week high of $32.00.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The firm had revenue of $454.54 million for the quarter, compared to analysts' expectations of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period in the previous year, the firm earned $0.65 EPS. On average, analysts expect that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.24 per share. 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 payout ratio is currently 33.57%.

Associated Banc Company Profile

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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