Associated Banc-Corp $ASB Holdings Lifted by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC boosted its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 14.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,344 shares of the bank’s stock after buying an additional 19,949 shares during the period. Crescent Grove Advisors LLC owned approximately 0.10% of Associated Banc worth $4,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ASB. Vanguard Group Inc. grew its stake in Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after acquiring an additional 545,185 shares in the last quarter. State Street Corp boosted its holdings in shares of Associated Banc by 1.7% during the fourth quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock worth $224,404,000 after purchasing an additional 147,372 shares during the period. LSV Asset Management grew its holdings in shares of Associated Banc by 1.1% during the 4th quarter. LSV Asset Management now owns 3,663,163 shares of the bank’s stock valued at $94,363,000 after acquiring an additional 38,900 shares in the last quarter. Verition Fund Management LLC grew its stake in Associated Banc by 50.6% in the fourth quarter. Verition Fund Management LLC now owns 2,867,172 shares of the bank’s stock valued at $73,858,000 after purchasing an additional 963,788 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Associated Banc by 38.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,841,931 shares of the bank’s stock valued at $73,208,000 after acquiring an additional 790,793 shares during the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total value of $140,850.00. Following the sale, the executive vice president directly owned 11,777 shares in the company, valued at $331,758.09. This trade represents a 29.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the transaction, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,299 shares of company stock valued at $801,760 in the last 90 days. 0.71% of the stock is owned by company insiders.

Associated Banc Stock Performance

ASB opened at $31.27 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.76. The stock’s 50 day moving average price is $29.14 and its two-hundred day moving average price is $27.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a 12-month low of $23.63 and a 12-month high of $31.83.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The company had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same period in the previous year, the business posted $0.59 EPS. On average, equities analysts forecast that Associated Banc-Corp will post 2.91 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.24 per share. 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 payout ratio is 33.33%.

Analysts Set New Price Targets

ASB has been the topic of several analyst reports. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Truist Financial boosted their price objective on shares of Associated Banc from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Piper Sandler raised 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Associated Banc currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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.