Sivia Capital Partners LLC Makes New Investment 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 purchased a new stake in Associated Banc-Corp (NYSE:ASB - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,433 shares of the bank's stock, valued at approximately $328,000.

A number of other institutional investors also recently modified their holdings of ASB. Goldman Sachs Group Inc. grew its holdings in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock worth $61,927,000 after buying an additional 1,598,951 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Associated Banc during the 4th quarter worth approximately $37,662,000. AQR Capital Management LLC grew its stake in shares of Associated Banc by 200.3% during the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank's stock worth $42,853,000 after acquiring an additional 1,287,458 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Associated Banc in the first quarter valued at approximately $23,510,000. Finally, Invesco Ltd. lifted its position in shares of Associated Banc by 83.2% in the first quarter. Invesco Ltd. now owns 1,308,946 shares of the bank's stock worth $29,491,000 after purchasing an additional 594,361 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Associated Banc news, EVP Patrick Edward Ahern sold 3,342 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $26.20, for a total value of $87,560.40. Following the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew R. Braeger sold 2,000 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares in the company, valued at $351,533.64. The trade was a 13.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,342 shares of company stock valued at $494,360 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Associated Banc Stock Performance

Shares of ASB stock traded down $0.40 on Monday, reaching $25.88. The stock had a trading volume of 1,013,747 shares, compared to its average volume of 1,325,711. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $28.18. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 1.01 and a beta of 0.84. The firm's 50-day moving average is $25.63 and its two-hundred day moving average is $23.76. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. The firm 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. On average, research analysts expect 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 issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a yield of 3.6%. Associated Banc's dividend payout ratio (DPR) is currently 119.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ASB shares. Barclays raised their target price on shares of Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Royal Bank Of Canada increased their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Wells Fargo & Company raised their price objective on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler lifted their target price on Associated Banc from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Robert W. Baird increased their price target 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 equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Associated Banc currently has a consensus rating of "Hold" and an average target price of $27.78.

Associated Banc Company 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.