Wolverine Asset Management LLC Has $347,000 Holdings in Associated Banc-Corp (NYSE:ASB)

Wolverine Asset Management LLC grew its holdings in Associated Banc-Corp (NYSE:ASB) by 317.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,099 shares of the bank’s stock after purchasing an additional 12,245 shares during the quarter. Wolverine Asset Management LLC’s holdings in Associated Banc were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its stake in Associated Banc by 4.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after acquiring an additional 525 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Associated Banc by 2.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock valued at $419,000 after purchasing an additional 525 shares during the period. Arizona State Retirement System boosted its position in shares of Associated Banc by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 42,068 shares of the bank’s stock worth $890,000 after purchasing an additional 586 shares during the last quarter. Truist Financial Corp grew its stake in shares of Associated Banc by 2.4% during the second quarter. Truist Financial Corp now owns 27,082 shares of the bank’s stock worth $573,000 after purchasing an additional 636 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Associated Banc by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock worth $1,072,000 after purchasing an additional 656 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Performance

Shares of ASB opened at $27.27 on Thursday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.00 and a beta of 0.91. Associated Banc-Corp has a 12 month low of $17.29 and a 12 month high of $28.18. The firm has a fifty day simple moving average of $22.61 and a 200 day simple moving average of $21.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same quarter last year, the company earned $0.53 EPS. Research analysts forecast that Associated Banc-Corp will post 2.12 EPS for the current fiscal year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.37%. Associated Banc’s payout ratio is 73.33%.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the transaction, the executive vice president now directly owns 99,637 shares in the company, valued at $2,269,730.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,641 shares of company stock worth $1,481,496 in the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ASB shares. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens reiterated an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a report on Tuesday, July 30th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Barclays increased their price target on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Piper Sandler increased their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.89.

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.