11,599 Shares in Associated Banc-Corp $ASB Purchased by FineMark National Bank & Trust

FineMark National Bank & Trust acquired a new position in Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,599 shares of the bank’s stock, valued at approximately $283,000.

A number of other institutional investors have also recently bought and sold shares of ASB. Geode Capital Management LLC grew its position in shares of Associated Banc by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,151,111 shares of the bank’s stock worth $101,256,000 after purchasing an additional 67,219 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares during the period. Charles Schwab Investment Management Inc. grew its position in Associated Banc by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,321,120 shares of the bank’s stock worth $52,295,000 after buying an additional 72,685 shares in the last quarter. AQR Capital Management LLC increased its stake in Associated Banc by 200.3% during the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock worth $42,853,000 after acquiring an additional 1,287,458 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in Associated Banc by 4.0% in the 2nd quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock valued at $45,354,000 after acquiring an additional 71,676 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ASB shares. Royal Bank Of Canada upped their target price on Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Piper Sandler upped their price objective on shares of Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Raymond James Financial restated an “outperform” rating and issued a $30.00 target price (up from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Finally, Truist Financial increased their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $28.22.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Patrick Edward Ahern sold 3,342 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the transaction, the executive vice president directly owned 41,472 shares in the company, valued at approximately $1,086,566.40. This trade represents a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew R. Braeger sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the executive vice president owned 13,346 shares in the company, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,342 shares of company stock valued at $494,360 in the last 90 days. 1.45% of the stock is owned by corporate insiders.

Associated Banc Trading Down 0.5%

ASB opened at $24.61 on Friday. The company has a market cap of $4.08 billion, a P/E ratio of 26.18, a PEG ratio of 0.98 and a beta of 0.84. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $25.47 and its 200-day moving average is $24.95. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $27.97.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.66 by $0.07. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. The business had revenue of $390.71 million during the quarter, compared to the consensus estimate of $377.94 million. During the same quarter in the prior year, the firm earned $0.56 EPS. Equities research analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, December 1st. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. Associated Banc’s dividend payout ratio is currently 102.13%.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.