Y Intercept Hong Kong Ltd Increases Holdings in Associated Banc-Corp $ASB

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Associated Banc-Corp by 159.3% in the first quarter, ending with 245,801 shares worth about $6.36 million.
• Insiders have been selling shares recently, including EVP Matthew R. Braeger and Director John B. Williams; overall insider sales totaled 28,299 shares over the last 90 days.
• Associated Banc reported quarterly EPS of $0.70, slightly above estimates, and continues to pay a quarterly dividend of $0.24 per share, for an annualized yield of about 3.1%.

Y Intercept Hong Kong Ltd raised its holdings in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 159.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,801 shares of the bank's stock after purchasing an additional 150,998 shares during the period. Y Intercept Hong Kong Ltd owned 0.15% of Associated Banc worth $6,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank's stock valued at $33,000 after acquiring an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Associated Banc in the third quarter worth $51,000. Hoese & Co LLP bought a new stake in Associated Banc in the fourth quarter valued at $52,000. Finally, Global Retirement Partners LLC bought a new stake in Associated Banc in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 82.98% of the company's stock.

Insider Buying and Selling at Associated Banc

In other news, EVP Matthew R. Braeger sold 5,000 shares of Associated Banc stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president directly owned 11,777 shares in the company, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Williams sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 28,299 shares of company stock valued at $801,760 over the last ninety days. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ASB. Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Zacks Research lowered shares of Associated Banc from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Stephens upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $30.00 to $29.00 in a research report on Friday, March 27th. Robert W. Baird increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Finally, Raymond James Financial raised their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.70.

Associated Banc Stock Performance

Shares of ASB stock opened at $30.63 on Friday. The company's fifty day moving average price is $28.63 and its 200-day moving average price is $27.35. The stock has a market cap of $5.78 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.77 and a beta of 0.76. 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 12 month low of $23.63 and a 12 month high of $31.50.

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

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Associated Banc's dividend payout ratio (DPR) is currently 33.33%.

About Associated Banc

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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