Rockefeller Capital Management L.P. Increases Holdings in Associated Banc-Corp $ASB

Rockefeller Capital Management L.P. raised its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 20,284.4% in the 4th quarter, HoldingsChannel reports. The fund owned 104,572 shares of the bank’s stock after buying an additional 104,059 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Associated Banc were worth $2,694,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. purchased a new stake in Associated Banc during the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Associated Banc during the third quarter worth approximately $51,000. Hoese & Co LLP purchased a new stake in shares of Associated Banc during the 4th quarter worth approximately $52,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Associated Banc during the 4th quarter worth approximately $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 John A. Utz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the sale, the executive vice president directly owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dennis Deloye sold 14,299 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the sale, the executive vice president owned 21,385 shares of the company’s stock, valued at $604,340.10. This trade represents a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,299 shares of company stock valued at $801,760. Company insiders own 0.71% of the company’s stock.

Associated Banc Price Performance

ASB stock opened at $31.24 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $5.89 billion, a P/E ratio of 10.85, a PEG ratio of 1.81 and a beta of 0.77. The business has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $27.22. Associated Banc-Corp has a twelve month low of $23.63 and a twelve month high of $31.34.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 23rd. The bank reported $0.70 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 business had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. During the same period in the previous year, the company posted $0.59 EPS. As a group, equities analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on ASB shares. Robert W. Baird upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Stephens raised 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. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday. Wells Fargo & Company raised their price objective on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Finally, Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $33.00 in a research report on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.30.

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.