Versor Investments LP Takes Position in Associated Banc-Corp $ASB

Key Points

• Versor Investments LP has invested approximately $367,000 in 16,300 shares of Associated Banc-Corp, indicating growing interest in the bank's stock amid changing market conditions.
• Associated Banc-Corp reported $0.65 earnings per share for the last quarter, surpassing analyst expectations, and has declared a quarterly dividend of $0.23, highlighting its commitment to returning value to shareholders.
• Institutional investors hold 82.98% of Associated Banc-Corp’s stock, showcasing strong institutional confidence and support for the company.

Versor Investments LP purchased a new stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,300 shares of the bank's stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hancock Whitney Corp boosted its stake in Associated Banc by 0.7% during the 4th quarter. Hancock Whitney Corp now owns 58,001 shares of the bank's stock valued at $1,386,000 after purchasing an additional 401 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Associated Banc by 13.1% during the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock valued at $84,000 after purchasing an additional 408 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Associated Banc by 1.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,238 shares of the bank's stock valued at $749,000 after purchasing an additional 500 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 during the last quarter. Finally, Mariner LLC grew its holdings in shares of Associated Banc by 3.3% in the fourth quarter. Mariner LLC now owns 17,882 shares of the bank's stock worth $427,000 after acquiring an additional 566 shares during the period. Institutional investors own 82.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial increased their target price 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 increased their target price on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Raymond James Financial reissued an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a report on Monday, April 28th. Royal Bank Of Canada increased their target price 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 target price on Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Associated Banc currently has an average rating of "Hold" and a consensus target price of $27.78.

Associated Banc Stock Performance

NYSE ASB traded up $0.37 on Tuesday, hitting $26.73. 1,173,470 shares of the company traded hands, compared to its average volume of 1,358,767. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 1.02 and a beta of 0.84. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The business's 50 day moving average price is $25.01 and its 200-day moving average price is $23.51. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week 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 for the quarter, beating the consensus estimate of $0.62 by $0.03. The company 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 period in the previous year, the business earned $0.52 earnings per share. Equities analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 2nd. Associated Banc's payout ratio is presently 119.48%.

About Associated Banc

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.