Jackson Creek Investment Advisors LLC Invests $1.77 Million in Associated Banc-Corp $ASB

Jackson Creek Investment Advisors LLC acquired a new stake in Associated Banc-Corp (NYSE:ASB) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 68,817 shares of the bank’s stock, valued at approximately $1,769,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Associated Banc by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,151,111 shares of the bank’s stock valued at $101,256,000 after buying an additional 67,219 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the last quarter. American Century Companies Inc. grew its stake in Associated Banc by 7.7% during the 2nd quarter. American Century Companies Inc. now owns 1,983,873 shares of the bank’s stock valued at $48,387,000 after acquiring an additional 141,946 shares in the last quarter. Norges Bank acquired a new stake in Associated Banc in the 2nd quarter valued at about $48,373,000. Finally, Pzena Investment Management LLC raised its holdings in Associated Banc by 4.0% in the 2nd quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock valued at $45,354,000 after acquiring an additional 71,676 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $27.77 on Tuesday. The firm has a market cap of $4.61 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.15. The business’s fifty day simple moving average is $26.49 and its 200-day simple moving average is $25.86.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. During the same period last year, the company earned $0.72 EPS. Equities analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, March 2nd. Associated Banc’s dividend payout ratio (DPR) is 34.66%.

Associated Banc declared that its board has approved a stock buyback plan on Tuesday, January 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ASB shares. UBS Group restated a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Tuesday, December 2nd. Piper Sandler boosted their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Truist Financial upped their target price on Associated Banc from $29.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 26th. Royal Bank Of Canada lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.20.

Insider Activity at Associated Banc

In related news, EVP Patrick Edward Ahern sold 30,489 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $25.70, for a total value of $783,567.30. Following the sale, the executive vice president owned 24,055 shares in the company, valued at approximately $618,213.50. The trade was a 55.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares of the company’s stock, valued at $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 35,951 shares of company stock valued at $925,756 in the last quarter. 1.10% of the stock is owned by insiders.

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.