UBS Group AG Sells 193,508 Shares of Associated Banc-Corp $ASB

Key Points

• UBS Group AG cut its stake in Associated Banc-Corp by 26.8% in the fourth quarter, selling 193,508 shares and leaving it with 527,407 shares valued at about $13.6 million.
• Associated Banc recently posted better-than-expected earnings of $0.70 per share on revenue of $387.21 million, while analysts currently expect full-year EPS of 2.92.
• The bank also approved a $100 million share buyback and declared a quarterly dividend of $0.24 per share, implying a 3.5% annualized yield.

UBS Group AG reduced its position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 26.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,407 shares of the bank's stock after selling 193,508 shares during the quarter. UBS Group AG owned 0.32% of Associated Banc worth $13,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC bought a new stake in Associated Banc in the third quarter valued at approximately $1,769,000. JPMorgan Chase & Co. raised its stake in Associated Banc by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank's stock valued at $25,312,000 after buying an additional 194,307 shares during the period. Heartland Advisors Inc. raised its stake in Associated Banc by 7.2% in the third quarter. Heartland Advisors Inc. now owns 877,828 shares of the bank's stock valued at $22,569,000 after buying an additional 59,184 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Associated Banc in the third quarter valued at approximately $1,289,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Associated Banc by 50.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 125,433 shares of the bank's stock valued at $3,225,000 after buying an additional 42,133 shares during the period. 82.98% of the stock is owned by institutional investors.

Insider Transactions at Associated Banc

In related news, Director Eileen A. Kamerick sold 6,600 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the transaction, the director directly owned 49,264 shares of the company's stock, valued at approximately $1,380,377.28. This trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Williams sold 4,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total transaction of $112,720.00. Following the transaction, the director directly owned 67,420 shares in the company, valued at approximately $1,899,895.60. This represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is currently owned by company insiders.

Associated Banc Price Performance

Shares of NYSE ASB opened at $27.80 on Friday. The firm has a market cap of $4.61 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 1.58 and a beta of 0.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a 1-year low of $22.40 and a 1-year high of $29.51. The business's 50 day moving average is $26.58 and its 200-day moving average is $26.54.

Associated Banc (NYSE:ASB - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share 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 company had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same quarter last year, the company earned $0.59 earnings per share. Equities research analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc declared that its board has approved a share buyback program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Associated Banc Announces Dividend

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

Wall Street Analyst Weigh In

ASB has been the topic of several research analyst reports. Stephens upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $30.00 to $29.00 in a research note on Friday, March 27th. Piper Sandler increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Zacks Research lowered shares of Associated Banc from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Barclays raised shares of Associated Banc from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $30.00 to $33.00 in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.30.

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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