688,497 Shares in Associated Banc-Corp $ASB Purchased by Man Group plc

Man Group plc acquired a new position in shares of Associated Banc-Corp (NYSE:ASB) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 688,497 shares of the bank’s stock, valued at approximately $21,185,000.

Other hedge funds also recently bought and sold shares of the company. IAG Wealth Partners LLC raised its holdings in shares of Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Associated Banc in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares during the period. CIBC Private Wealth Group LLC purchased a new position in Associated Banc during the 3rd quarter worth approximately $51,000. Finally, Global Retirement Partners LLC purchased a new position in Associated Banc during the 4th quarter worth approximately $56,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ASB shares. Raymond James Financial increased their target price on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Barclays lifted their price target on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company upped their price target on Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Truist Financial increased their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler restated a “neutral” rating and set a $34.00 price objective on shares of Associated Banc in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Associated Banc currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling at Associated Banc

In related news, EVP Derek S. Meyer sold 10,000 shares of Associated Banc stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total value of $307,400.00. Following the completion of the sale, the executive vice president owned 61,662 shares of the company’s stock, valued at approximately $1,895,489.88. The trade was a 13.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the sale, the executive vice president directly owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 87,524 shares of company stock worth $2,746,671 in the last ninety days. Company insiders own 0.71% of the company’s stock.

Associated Banc Trading Up 0.2%

NYSE:ASB opened at $30.88 on Thursday. The stock’s 50 day moving average price is $30.91 and its 200 day moving average price is $28.52. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.46. The company has a market capitalization of $5.83 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same quarter last year, the firm earned $0.65 earnings per share. On average, research analysts forecast that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s dividend payout ratio is 33.57%.

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.