Easterly Investment Partners LLC Makes New Investment in Associated Banc-Corp $ASB

Easterly Investment Partners LLC purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) during the fourth quarter, Holdings Channel reports. The fund purchased 45,991 shares of the bank’s stock, valued at approximately $1,185,000.

A number of other large investors also recently added to or reduced their stakes in ASB. Norges Bank acquired a new position in Associated Banc during the fourth quarter worth $54,660,000. First Trust Advisors LP lifted its stake in Associated Banc by 679.4% during the third quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock worth $57,171,000 after purchasing an additional 1,938,393 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after purchasing an additional 1,598,951 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Associated Banc by 4,883.7% during the third quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock worth $35,625,000 after purchasing an additional 1,357,862 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Associated Banc by 32.5% during the third quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock worth $67,606,000 after acquiring an additional 645,676 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ASB shares. Robert W. Baird upped their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial upped their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Wells Fargo & Company upped their price objective on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Finally, Barclays raised Associated Banc from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $33.00 in a research report on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.30.

Associated Banc Stock Down 2.2%

Associated Banc stock opened at $27.19 on Tuesday. Associated Banc-Corp has a 1-year low of $22.48 and a 1-year high of $29.51. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $4.51 billion, a PE ratio of 9.44, a P/E/G ratio of 1.61 and a beta of 0.79. The stock’s fifty day moving average is $27.24 and its two-hundred day moving average is $26.76.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The company had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. During the same period last year, the firm earned $0.59 earnings per share. On average, sell-side analysts expect 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 Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.5%. Associated Banc’s dividend payout ratio (DPR) is currently 33.33%.

Insiders Place Their Bets

In other Associated Banc news, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the sale, the director directly owned 67,420 shares in the company, valued at $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dennis Deloye sold 14,299 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the transaction, the executive vice president directly owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The SEC filing for this sale provides additional information. 0.71% of the stock is owned by company insiders.

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.