86,500 Shares in Associated Banc-Corp $ASB Purchased by Corient Private Wealth LP

Corient Private Wealth LP purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) during the second quarter, Holdings Channel reports. The firm purchased 86,500 shares of the bank’s stock, valued at approximately $2,662,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC raised 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 buying an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Associated Banc in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC increased its holdings in Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after acquiring an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Associated Banc in the 3rd quarter worth $51,000. Finally, Global Retirement Partners LLC acquired a new position in Associated Banc during the fourth quarter worth $56,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Trading Down 2.3%

Shares of ASB opened at $29.90 on Wednesday. Associated Banc-Corp has a 52-week low of $23.86 and a 52-week high of $32.46. The stock has a market cap of $5.65 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76. The firm’s fifty day moving average is $31.00 and its two-hundred day moving average is $28.57. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

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 firm had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. During the same period in the previous year, the business posted $0.65 earnings per share. Research analysts forecast that Associated Banc-Corp will post 2.94 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Nicole M. Kitowski sold 7,663 shares of the company’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 represents a 14.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derek S. Meyer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the completion of the sale, the executive vice president directly owned 61,662 shares of the company’s stock, valued at $1,895,489.88. This trade represents a 13.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 87,524 shares of company stock valued at $2,746,671 in the last three months. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

ASB has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Truist Financial upped their price target on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Barclays raised their price target on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Piper Sandler reiterated a “neutral” rating and set a $34.00 price objective on shares of Associated Banc in a research note on Wednesday, August 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

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.