Ruffer LLP Takes Position in Associated Banc-Corp $ASB

Key Points

• Ruffer LLP acquired a new stake of 121,477 shares in Associated Banc‑Corp (NYSE:ASB) in Q4, worth about $3.13 million and representing roughly 0.07% of the company.
• Associated Banc’s board approved a $100.0 million share repurchase plan (about 2.2% of shares) and the bank pays a $0.24 quarterly dividend (≈3.4% yield); the company also topped Q4 EPS estimates ($0.80 vs. $0.69).
• Corporate insiders sold 23,656 shares over the past 90 days, while analysts remain mixed but the consensus rating is a Moderate Buy with a $29.60 price target.

Ruffer LLP acquired a new stake in Associated Banc-Corp (NYSE:ASB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 121,477 shares of the bank's stock, valued at approximately $3,134,000. Ruffer LLP owned approximately 0.07% of Associated Banc at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Jackson Creek Investment Advisors LLC bought a new position in Associated Banc during the third quarter worth about $1,769,000. JPMorgan Chase & Co. grew its holdings in Associated Banc by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank's stock worth $25,312,000 after purchasing an additional 194,307 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Associated Banc during the third quarter worth about $1,289,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Associated Banc by 50.6% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 125,433 shares of the bank's stock worth $3,225,000 after purchasing an additional 42,133 shares during the period. Finally, First Trust Advisors LP grew its holdings in Associated Banc by 679.4% during the third quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank's stock worth $57,171,000 after purchasing an additional 1,938,393 shares during the period. Institutional investors own 82.98% of the company's stock.

Insider Activity

In other news, EVP Patrick Edward Ahern sold 14,731 shares of Associated Banc stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total value of $427,640.93. Following the completion of the sale, the executive vice president directly owned 39,401 shares in the company, valued at approximately $1,143,811.03. The trade was a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen A. Kamerick sold 6,600 shares of Associated Banc stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the completion of the sale, the director owned 49,264 shares of the company's stock, valued at approximately $1,380,377.28. The trade was a 11.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 23,656 shares of company stock worth $677,789. Corporate insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $30.00 to $33.00 in a report on Tuesday, April 7th. Wells Fargo & Company boosted their price objective on Associated Banc from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, March 30th. Wall Street Zen upgraded Associated Banc from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Stephens upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $30.00 to $29.00 in a report on Friday, March 27th. Finally, Zacks Research cut Associated Banc from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.60.

Associated Banc Trading Down 1.8%

Shares of NYSE:ASB opened at $27.85 on Wednesday. Associated Banc-Corp has a 12-month low of $20.23 and a 12-month high of $29.51. The stock has a market cap of $4.61 billion, a PE ratio of 10.06, a P/E/G ratio of 1.47 and a beta of 0.77. The business has a 50 day moving average of $26.45 and a 200-day moving average of $26.27. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The company had revenue of $393.52 million during the quarter, compared to analysts' expectations of $382.06 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, equities research analysts forecast that Associated Banc-Corp will post 2.85 earnings per share for the current year.

Associated Banc declared that its Board of Directors has approved a stock repurchase plan on Tuesday, January 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, March 2nd. Associated Banc's payout ratio is presently 34.66%.

About Associated Banc

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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