LSV Asset Management Acquires 490,321 Shares of Associated Banc-Corp (NYSE:ASB)

LSV Asset Management grew its stake in shares of Associated Banc-Corp (NYSE:ASB - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,826,597 shares of the bank's stock after acquiring an additional 490,321 shares during the period. LSV Asset Management owned 1.87% of Associated Banc worth $60,461,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in Associated Banc in the fourth quarter valued at about $892,000. Walleye Capital LLC bought a new position in Associated Banc in the 3rd quarter worth approximately $7,561,000. AQR Capital Management LLC lifted its holdings in shares of Associated Banc by 92.2% during the third quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank's stock worth $24,524,000 after buying an additional 687,552 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Associated Banc by 7.7% in the third quarter. Deutsche Bank AG now owns 123,392 shares of the bank's stock valued at $2,111,000 after acquiring an additional 8,836 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Associated Banc by 2,344.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank's stock worth $12,134,000 after acquiring an additional 680,161 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John B. Williams sold 2,700 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the transaction, the director now directly owns 62,876 shares of the company's stock, valued at $1,229,225.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Associated Banc news, Director John B. Williams sold 2,700 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total transaction of $52,785.00. Following the transaction, the director now owns 62,876 shares in the company, valued at approximately $1,229,225.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the sale, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders sold 26,729 shares of company stock valued at $561,450 in the last quarter. Company insiders own 1.45% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ASB shares. Piper Sandler raised their price target on shares of Associated Banc from $21.50 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, January 26th. Stephens reiterated an "equal weight" rating and issued a $23.00 price objective on shares of Associated Banc in a research report on Friday, April 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Wells Fargo & Company lifted their price target on shares of Associated Banc from $20.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, April 10th. Finally, Raymond James increased their price target on Associated Banc from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.13.

Associated Banc Trading Up 0.5 %

NYSE ASB traded up $0.10 on Friday, reaching $21.97. The company had a trading volume of 765,271 shares, compared to its average volume of 1,380,008. Associated Banc-Corp has a 52 week low of $14.47 and a 52 week high of $22.32. The stock's 50 day moving average is $20.89 and its 200-day moving average is $20.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.30 and a beta of 0.99.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analysts' expectations of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. Associated Banc's revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Equities analysts predict that Associated Banc-Corp will post 2.11 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.01%. Associated Banc's dividend payout ratio is 88.89%.

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.