UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Associated Banc-Corp $ASB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Associated Banc-Corp (NYSE:ASB) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,453 shares of the bank’s stock after purchasing an additional 51,068 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Associated Banc were worth $12,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC lifted its stake in shares of Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after buying an additional 1,190 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Associated Banc in the 4th quarter worth $33,000. EverSource Wealth Advisors LLC increased 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 buying an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Associated Banc in the 3rd quarter worth $51,000. Finally, Global Retirement Partners LLC bought a new stake in Associated Banc during the fourth quarter valued at about $56,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Price Performance

NYSE:ASB opened at $31.08 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $5.87 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.05 and a beta of 0.76. Associated Banc-Corp has a 12 month low of $23.86 and a 12 month high of $32.46. The business’s 50-day moving average is $31.00 and its 200 day moving average is $28.63.

Associated Banc (NYSE:ASB) last released its quarterly earnings results 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. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same quarter last year, the business posted $0.65 EPS. On average, equities research analysts forecast that Associated Banc-Corp will post 2.94 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays boosted their price objective on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wells Fargo & Company lifted their target price on Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Raymond James Financial boosted their price target on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Finally, Truist Financial increased their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.00.

Insider Activity

In related news, EVP John Utz sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory Warsek sold 16,300 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the sale, the executive vice president owned 13,809 shares in the company, valued at $442,026.09. This represents a 54.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 88,833 shares of company stock worth $2,787,053. 0.71% of the stock is owned by corporate insiders.

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.