Associated Banc-Corp $ASB Position Decreased by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,707 shares of the bank’s stock after selling 21,752 shares during the period. Rafferty Asset Management LLC’s holdings in Associated Banc were worth $5,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank’s stock valued at $26,000 after purchasing an additional 651 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Associated Banc by 385.5% in the first quarter. Versant Capital Management Inc now owns 1,612 shares of the bank’s stock worth $36,000 after buying an additional 1,280 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Associated Banc by 13.1% in the fourth quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank’s stock worth $84,000 after buying an additional 408 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Associated Banc by 17.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank’s stock worth $83,000 after buying an additional 559 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Associated Banc by 38.0% in the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock worth $90,000 after buying an additional 1,122 shares during the period. Institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ASB shares. Barclays raised their target price on shares of Associated Banc from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 28th. Wells Fargo & Company raised their target price on shares of Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Friday, July 25th. Royal Bank Of Canada raised their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Finally, Truist Financial raised their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.78.

Associated Banc Stock Performance

ASB stock opened at $27.04 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market cap of $4.48 billion, a P/E ratio of 35.11, a P/E/G ratio of 1.04 and a beta of 0.84. The firm has a 50 day simple moving average of $25.18 and a 200 day simple moving average of $23.55. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $366.98 million during the quarter, compared to analysts’ expectations of $362.78 million. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. During the same period last year, the company posted $0.52 earnings per share. Research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Associated Banc’s dividend payout ratio (DPR) is presently 119.48%.

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.