Sei Investments Co. Boosts Stock Position in Associated Banc-Corp $ASB

Sei Investments Co. boosted its position in Associated Banc-Corp (NYSE:ASB) by 134.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 433,405 shares of the bank’s stock after purchasing an additional 248,265 shares during the quarter. Sei Investments Co.’s holdings in Associated Banc were worth $11,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC boosted its stake in shares of Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after purchasing an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Associated Banc in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its position in shares of Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc during the third quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Associated Banc during the fourth quarter valued at approximately $56,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASB has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Zacks Research lowered Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Piper Sandler raised their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Finally, Robert W. Baird upped their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Insider Activity

In related news, EVP John A. Utz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the transaction, the executive vice president owned 118,156 shares in the company, valued at approximately $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction 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 represents a 29.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,962 shares of company stock worth $1,233,303. Insiders own 0.71% of the company’s stock.

Associated Banc Price Performance

Associated Banc stock opened at $30.88 on Friday. Associated Banc-Corp has a 1 year low of $23.63 and a 1 year high of $31.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50 day moving average price of $29.75 and a 200 day moving average price of $27.96. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.05 and a beta of 0.76.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The company had revenue of $450.44 million for the quarter, compared to the consensus estimate of $438.01 million. During the same quarter last year, the firm posted $0.65 earnings per share. Sell-side analysts predict that Associated Banc-Corp will post 2.9 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s dividend payout ratio is currently 33.57%.

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.