Hsbc Holdings PLC Purchases 24,622 Shares of Associated Banc-Corp $ASB

Hsbc Holdings PLC increased its holdings in Associated Banc-Corp (NYSE:ASB) by 190.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,576 shares of the bank’s stock after buying an additional 24,622 shares during the period. Hsbc Holdings PLC’s holdings in Associated Banc were worth $968,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in Associated Banc by 0.3% during the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after buying an additional 394 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Associated Banc by 2.3% in the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after acquiring an additional 426 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Associated Banc by 2.0% during the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after acquiring an additional 549 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Associated Banc by 1.8% during the 4th quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after acquiring an additional 619 shares during the last quarter. Finally, Harmony Asset Management LLC grew its holdings in shares of Associated Banc by 7.5% during the fourth quarter. Harmony Asset Management LLC now owns 10,750 shares of the bank’s stock worth $277,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Up 0.5%

Shares of NYSE ASB opened at $30.75 on Tuesday. The stock has a market capitalization of $5.80 billion, a P/E ratio of 10.68, a PEG ratio of 1.13 and a beta of 0.76. Associated Banc-Corp has a one year low of $23.63 and a one year high of $31.50. The firm’s 50 day simple moving average is $28.93 and its two-hundred day simple moving average is $27.52. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The firm had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. During the same period in the previous year, the business posted $0.59 EPS. As a group, analysts expect that Associated Banc-Corp will post 2.91 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s payout ratio is currently 33.33%.

Insider Buying and Selling at Associated Banc

In other news, EVP Matthew R. Braeger sold 5,000 shares of Associated Banc stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value of $140,850.00. Following the transaction, the executive vice president owned 11,777 shares in the company, valued at approximately $331,758.09. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total value of $112,720.00. Following the completion of the sale, the director directly owned 67,420 shares of the company’s stock, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 28,299 shares of company stock valued at $801,760. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $30.00 to $29.00 in a research report on Friday, March 27th. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Piper Sandler boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Wells Fargo & Company increased their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Finally, Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Associated Banc Company 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.