WoodTrust Financial Corp Has $471,000 Stock Position in Associated Banc-Corp $ASB

WoodTrust Financial Corp reduced its stake in Associated Banc-Corp (NYSE:ASB) by 90.6% during the 3rd quarter, Holdings Channel reports. The firm owned 18,309 shares of the bank’s stock after selling 176,452 shares during the period. WoodTrust Financial Corp’s holdings in Associated Banc were worth $471,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ASB. Norges Bank acquired a new position in Associated Banc in the second quarter valued at about $48,373,000. Goldman Sachs Group Inc. boosted its stake in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the last quarter. Leeward Investments LLC MA grew its holdings in Associated Banc by 39.7% during the second quarter. Leeward Investments LLC MA now owns 765,504 shares of the bank’s stock valued at $18,671,000 after purchasing an additional 217,546 shares during the period. Jane Street Group LLC lifted its holdings in Associated Banc by 138.1% during the second quarter. Jane Street Group LLC now owns 302,377 shares of the bank’s stock worth $7,375,000 after acquiring an additional 175,395 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Associated Banc by 7.7% in the second quarter. American Century Companies Inc. now owns 1,983,873 shares of the bank’s stock worth $48,387,000 after acquiring an additional 141,946 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $30.00 price target (up from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Associated Banc in a research report on Monday. Barclays reduced their price objective on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Finally, Truist Financial upped their target price on Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.50.

Associated Banc Trading Down 0.5%

Associated Banc stock opened at $26.58 on Friday. The stock has a 50-day simple moving average of $26.09 and a 200 day simple moving average of $25.75. The stock has a market capitalization of $4.41 billion, a P/E ratio of 28.27, a PEG ratio of 0.74 and a beta of 0.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $27.58.

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

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, December 1st. Associated Banc’s dividend payout ratio (DPR) is presently 102.13%.

Insider Buying and Selling at Associated Banc

In related news, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares in the company, valued at approximately $2,900,927.22. This represents a 1.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Edward Ahern sold 30,489 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the transaction, the executive vice president directly owned 24,055 shares in the company, valued at approximately $618,213.50. This represents a 55.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 35,951 shares of company stock worth $925,756. Corporate insiders own 1.45% of the company’s stock.

Associated Banc Company Profile

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.