Lazard Asset Management LLC Acquires 17,519 Shares of Associated Banc-Corp $ASB

Lazard Asset Management LLC lifted its holdings in Associated Banc-Corp (NYSE:ASB) by 45.4% in the 1st quarter, Holdings Channel reports. The firm owned 56,101 shares of the bank’s stock after acquiring an additional 17,519 shares during the period. Lazard Asset Management LLC’s holdings in Associated Banc were worth $1,451,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ASB. California State Teachers Retirement System raised its position in Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after buying an additional 394 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Associated Banc by 2.3% during the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after acquiring an additional 426 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after acquiring an additional 549 shares during the period. Quadrant Capital Group LLC lifted its position in Associated Banc by 1.8% during the fourth quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after purchasing an additional 619 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Associated Banc by 1.8% in the first quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock worth $1,018,000 after purchasing an additional 700 shares during the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Trading Up 1.1%

Shares of ASB stock opened at $31.73 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.07 and a beta of 0.77. Associated Banc-Corp has a 1 year low of $23.66 and a 1 year high of $32.00. The firm has a fifty day moving average price of $29.89 and a 200-day moving average price of $28.05.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $454.54 million for the quarter, compared to analysts’ expectations of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period last year, the firm earned $0.65 EPS. As a group, equities analysts predict that Associated Banc-Corp will post 2.9 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. Associated Banc’s dividend payout ratio (DPR) is 33.57%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASB. Barclays lifted their target price on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Raymond James Financial raised their price target on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their price objective on Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Piper Sandler upped their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.10.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew R. Braeger sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 11,777 shares of the company’s stock, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,962 shares of company stock valued at $1,233,303. Company insiders own 0.71% of the company’s stock.

Associated Banc 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.