Crescent Grove Advisors LLC Sells 83,024 Shares of Associated Banc-Corp $ASB

Crescent Grove Advisors LLC trimmed its holdings in Associated Banc-Corp (NYSE:ASB) by 62.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,009 shares of the bank’s stock after selling 83,024 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Associated Banc were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the stock. State of Michigan Retirement System grew its holdings in shares of Associated Banc by 1.8% during the first quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock valued at $1,018,000 after buying an additional 700 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Associated Banc by 7.3% in the 2nd quarter. Baird Financial Group Inc. now owns 10,336 shares of the bank’s stock worth $318,000 after acquiring an additional 703 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Associated Banc by 27.7% in the 1st quarter. Parallel Advisors LLC now owns 3,305 shares of the bank’s stock worth $85,000 after acquiring an additional 717 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Associated Banc by 6.3% in the 3rd quarter. GAMMA Investing LLC now owns 14,649 shares of the bank’s stock worth $420,000 after acquiring an additional 874 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in Associated Banc by 11.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 8,605 shares of the bank’s stock valued at $247,000 after buying an additional 881 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Up 0.3%

Shares of NYSE ASB opened at $29.19 on Thursday. The firm’s fifty day moving average is $29.88 and its 200 day moving average is $29.41. Associated Banc-Corp has a 52 week low of $23.87 and a 52 week high of $32.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.00 and a beta of 0.80.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities research analysts expect that Associated Banc-Corp will post 2.95 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.24 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.3%. Associated Banc’s dividend payout ratio (DPR) is 33.57%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James Financial boosted their price target on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler restated a “neutral” rating and set a $34.00 price objective on shares of Associated Banc in a report on Wednesday, August 26th. Wells Fargo & Company lowered their price objective on shares of Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Barclays boosted their target price on shares of Associated Banc from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 5th. Finally, Truist Financial increased their target price on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling at Associated Banc

In other news, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total value of $521,763.00. Following the completion of the transaction, the executive vice president owned 13,809 shares in the company, valued at $442,026.09. This trade represents a 54.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Randall J. Erickson sold 43,561 shares of the company’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 completion of the sale, the executive vice president directly owned 56,091 shares in the company, valued at approximately $1,797,155.64. The trade was a 43.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 78,833 shares of company stock worth $2,502,103. Insiders own 0.71% of the company’s stock.

About Associated Banc

Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.