West Family Investments Inc. Invests $512,000 in Associated Banc-Corp $ASB

West Family Investments Inc. purchased a new position in Associated Banc-Corp (NYSE:ASB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 16,641 shares of the bank’s stock, valued at approximately $512,000.

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

Insiders Place Their Bets

In other Associated Banc news, EVP Derek Meyer sold 10,000 shares of the 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 sale, the executive vice president directly owned 61,662 shares in the company, valued at approximately $1,895,489.88. This trade represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Randall Erickson sold 43,561 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total value of $1,395,694.44. Following the sale, the executive vice president directly owned 56,091 shares in the company, valued at $1,797,155.64. The trade was a 43.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,833 shares of company stock worth $2,502,103 over the last ninety days. Company insiders own 0.71% of the company’s stock.

Associated Banc Stock Performance

Associated Banc stock opened at $30.55 on Wednesday. The stock has a 50-day simple moving average of $31.00 and a 200 day simple moving average of $28.67. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.05 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Associated Banc-Corp has a 12-month low of $23.86 and a 12-month high of $32.46.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.64% and a net margin of 19.66%.During the same period last year, the company earned $0.65 EPS. On average, research analysts anticipate that Associated Banc-Corp will post 2.94 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.24 dividend. 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 (DPR) is currently 33.57%.

Analyst Upgrades and Downgrades

ASB has been the subject of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Associated Banc in a research report on Wednesday, August 26th. Truist Financial lifted their target price on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. 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 report on Monday, August 10th. Finally, Raymond James Financial raised their price objective on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Associated Banc has an average rating of “Moderate Buy” and an average price target of $32.00.

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.