Savant Capital LLC Has $319,000 Position in Associated Banc-Corp $ASB

Key Points

• Savant Capital LLC cut its stake in Associated Banc-Corp by 75.4% in the fourth quarter, selling 38,065 shares and leaving it with 12,396 shares valued at about $319,000.
• Institutional ownership remains heavy, with firms like Vanguard, JPMorgan Chase, and First Trust making sizable positions; overall, institutions and hedge funds own 82.98% of the stock.
• Associated Banc recently reported better-than-expected earnings of $0.70 per share and declared a quarterly dividend of $0.24, implying a 3.5% annualized yield.

Savant Capital LLC reduced its holdings in Associated Banc-Corp (NYSE:ASB - Free Report) by 75.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,396 shares of the bank's stock after selling 38,065 shares during the quarter. Savant Capital LLC's holdings in Associated Banc were worth $319,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 valued at $25,312,000 after purchasing an additional 194,307 shares during the period. Heartland Advisors Inc. grew its holdings in Associated Banc by 7.2% during the third quarter. Heartland Advisors Inc. now owns 877,828 shares of the bank's stock valued at $22,569,000 after purchasing an additional 59,184 shares during the period. 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 valued at $3,225,000 after purchasing an additional 42,133 shares during the period. 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 valued at $57,171,000 after purchasing an additional 1,938,393 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Associated Banc by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank's stock valued at $477,543,000 after purchasing an additional 545,185 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ASB shares. Weiss Ratings raised Associated Banc from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, February 17th. Raymond James Financial reissued an "outperform" rating and set a $31.00 price objective on shares of Associated Banc in a report on Monday, April 27th. Wall Street Zen lowered Associated Banc from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their price objective on Associated Banc from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 30th. Finally, Truist Financial increased their price objective on Associated Banc from $27.00 to $30.00 and gave the company a "hold" rating in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.30.

Insiders Place Their Bets

In other news, EVP Dennis Deloye sold 14,299 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the transaction, the executive vice president directly owned 21,385 shares of the company's stock, valued at $604,340.10. This trade represents a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Williams sold 4,000 shares of Associated Banc stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total value of $112,720.00. Following the sale, the director directly owned 67,420 shares of the company's stock, valued at $1,899,895.60. This represents a 5.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is owned by company insiders.

Associated Banc Price Performance

Associated Banc stock opened at $27.76 on Friday. Associated Banc-Corp has a one year low of $22.48 and a one year high of $29.51. The business has a fifty day moving average price of $27.46 and a 200-day moving average price of $26.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $5.24 billion, a P/E ratio of 9.64, a PEG ratio of 1.60 and a beta of 0.77.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The firm had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. During the same period last year, the company earned $0.59 earnings per share. As a group, equities research analysts forecast that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Associated Banc's dividend payout ratio (DPR) is presently 33.33%.

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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