Hsbc Holdings PLC Acquires New Position in Associated Banc-Corp $ASB

Hsbc Holdings PLC acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 93,955 shares of the bank’s stock, valued at approximately $2,892,000.

Several other large investors have also bought and sold shares of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC raised its holdings in Associated Banc by 90.4% in the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after acquiring an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Associated Banc by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock valued at $11,184,000 after acquiring an additional 60,758 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Associated Banc during the 2nd quarter valued at $328,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASB has been the subject of a number of research analyst reports. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays upped their price target on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Truist Financial increased their price objective on Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Finally, Raymond James Financial boosted their target price on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

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 transaction 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 $3,405,255.92. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Derek S. Meyer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total transaction of $307,400.00. Following the completion of the transaction, the executive vice president owned 61,662 shares in the company, valued at $1,895,489.88. This trade represents a 13.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 87,524 shares of company stock worth $2,746,671. 0.71% of the stock is owned by corporate insiders.

Associated Banc Trading Up 0.5%

NYSE:ASB opened at $30.94 on Friday. The company has a market cap of $5.84 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77. 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 company has a 50 day simple moving average of $30.97 and a two-hundred day simple moving average of $28.55. 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 earnings per share for the quarter, beating 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 firm had revenue of $454.54 million for the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the prior year, the firm earned $0.65 EPS. Research analysts forecast that Associated Banc-Corp will post 2.94 earnings per share for the current year.

Associated Banc Dividend Announcement

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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s payout ratio is currently 33.57%.

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.