Ieq Capital LLC Makes New Investment in Associated Banc-Corp $ASB

Ieq Capital LLC acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the second quarter, HoldingsChannel.com reports. The fund acquired 143,436 shares of the bank’s stock, valued at approximately $4,414,000.

Other hedge funds have also recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of Associated Banc by 134.1% during the first quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock worth $11,208,000 after acquiring an additional 248,265 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Associated Banc by 159.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock valued at $6,356,000 after acquiring an additional 150,998 shares during the last quarter. Associated Banc Corp increased its holdings in Associated Banc by 7.5% in the 4th quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock valued at $67,783,000 after acquiring an additional 182,623 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Associated Banc in the 2nd quarter worth $2,048,000. Finally, BlackRock Inc. purchased a new stake in Associated Banc in the 2nd quarter worth $715,927,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James Financial raised their price objective on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wells Fargo & Company boosted their target price on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Barclays increased their price target on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Truist Financial lifted their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Associated Banc Stock Up 0.2%

Shares of NYSE ASB opened at $30.92 on Tuesday. The firm’s 50-day moving average price is $30.84 and its 200-day moving average price is $28.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.05 and a beta of 0.77. Associated Banc-Corp has a 12-month low of $23.86 and a 12-month high of $32.46.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. During the same quarter last year, the business posted $0.65 earnings per share. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Associated Banc’s payout ratio is 33.57%.

Insider Transactions at Associated Banc

In related news, EVP Nicole M. Kitowski sold 7,663 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the completion of the sale, the executive vice president directly owned 45,327 shares in the company, valued at $1,401,057.57. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was 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 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 87,524 shares of company stock worth $2,746,671. 0.71% of the stock is currently owned by corporate insiders.

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.