Associated Banc-Corp $ASB Shares Acquired by Strs Ohio

Strs Ohio grew its holdings in Associated Banc-Corp (NYSE:ASB) by 370.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,900 shares of the bank’s stock after acquiring an additional 39,300 shares during the period. Strs Ohio’s holdings in Associated Banc were worth $1,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of Associated Banc during the fourth quarter worth $33,000. EverSource Wealth Advisors LLC boosted its holdings in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Associated Banc during the 3rd quarter worth about $51,000. Hoese & Co LLP acquired a new stake in Associated Banc during the 4th quarter worth about $52,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Associated Banc during the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insider Activity at Associated Banc

In related news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the sale, the executive vice president owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Williams sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total transaction of $112,720.00. Following the transaction, the director owned 67,420 shares of the company’s stock, valued at $1,899,895.60. This represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,299 shares of company stock worth $801,760 over the last 90 days. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Zacks Research downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Truist Financial raised their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $30.00 to $29.00 in a report on Friday, March 27th. Finally, Piper Sandler boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.80.

Associated Banc Stock Performance

NYSE ASB opened at $30.71 on Wednesday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.77 and a beta of 0.76. The stock has a 50-day moving average of $28.75 and a 200 day moving average of $27.41. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a twelve month low of $23.63 and a twelve month high of $31.50.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period last year, the company earned $0.59 earnings per share. Sell-side analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

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.