Sivia Capital Partners LLC Purchases New Holdings in Associated Banc-Corp $ASB

Key Points

• Sivia Capital Partners LLC acquired a new stake in Associated Banc-Corp, purchasing 13,433 shares valued at approximately $328,000 during the 2nd quarter.
• Associated Banc-Corp recently reported earnings of $0.65 per share, exceeding analysts' expectations of $0.62, while the company's revenue reached $366.98 million for the quarter.
• The bank's current dividend yield stands at 3.5% with a quarterly dividend of $0.23 per share, despite a high dividend payout ratio of 119.48%.

Sivia Capital Partners LLC acquired a new position in Associated Banc-Corp (NYSE:ASB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,433 shares of the bank's stock, valued at approximately $328,000.

A number of other hedge funds also recently modified their holdings of ASB. Versant Capital Management Inc raised its holdings in shares of Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after buying an additional 1,280 shares in the last quarter. Quarry LP raised its holdings in shares of Associated Banc by 77.7% in the 1st quarter. Quarry LP now owns 1,907 shares of the bank's stock worth $43,000 after buying an additional 834 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Associated Banc by 17.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank's stock worth $83,000 after buying an additional 559 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock worth $90,000 after buying an additional 1,122 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 buying an additional 547 shares in the last quarter. Institutional investors own 82.98% of the company's stock.

Insiders Place Their Bets

In other news, EVP Patrick Edward Ahern sold 3,342 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total transaction of $87,560.40. Following the completion of the sale, the executive vice president owned 41,472 shares in the company, valued at $1,086,566.40. The trade was a 7.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew R. Braeger sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the executive vice president owned 13,346 shares of the company's stock, valued at approximately $351,533.64. This represents a 13.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,342 shares of company stock valued at $494,360 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ASB. Truist Financial raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price target on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Finally, Robert W. Baird increased their price objective on Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Associated Banc presently has an average rating of "Hold" and a consensus target price of $27.78.

Associated Banc Stock Down 1.1%

Shares of NYSE:ASB traded down $0.30 during midday trading on Monday, reaching $25.97. The company had a trading volume of 129,407 shares, compared to its average volume of 1,512,572. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. The business's 50 day moving average price is $25.63 and its 200 day moving average price is $23.74. The stock has a market cap of $4.31 billion, a PE ratio of 33.79, a P/E/G ratio of 1.01 and a beta of 0.84. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.03. The business had revenue of $366.98 million for the quarter, compared to the consensus estimate of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter in the previous year, the business earned $0.52 earnings per share. Research analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Associated Banc's payout ratio is 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.