Associated Banc-Corp $ASB Stock Holdings Increased by Engineers Gate Manager LP

Engineers Gate Manager LP raised its position in shares of Associated Banc-Corp (NYSE:ASB) by 147.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,421 shares of the bank’s stock after buying an additional 69,377 shares during the quarter. Engineers Gate Manager LP’s holdings in Associated Banc were worth $3,582,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. IAG Wealth Partners LLC grew its position in shares of Associated Banc by 4,250.0% in the 1st 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 in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its position in shares of Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Associated Banc during the 3rd quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC bought a new position in Associated Banc during the fourth quarter worth $56,000. Institutional investors own 82.98% of the company’s stock.

Insider Activity at Associated Banc

In related news, EVP Derek S. Meyer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the completion of the transaction, the executive vice president directly owned 61,662 shares of the company’s stock, valued at $1,895,489.88. This represents a 13.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Randall J. Erickson sold 43,561 shares of Associated Banc stock in a transaction on Wednesday, August 12th. The shares were 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 78,833 shares of company stock valued at $2,502,103. Company insiders own 0.71% of the company’s stock.

Associated Banc Stock Performance

ASB stock opened at $30.07 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.01 and a beta of 0.76. Associated Banc-Corp has a 1 year low of $23.86 and a 1 year high of $32.46. The stock’s fifty day moving average is $30.96 and its two-hundred day moving average is $28.70.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The business had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, research analysts predict that Associated Banc-Corp will post 2.94 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

Analysts Set New Price Targets

A number of research firms have commented on ASB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Truist Financial raised their price target on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 price target on shares of Associated Banc in a report on Wednesday, August 26th. Raymond James Financial lifted their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

About Associated Banc

Associated Banc-Corp (NYSE: ASB) is a bank holding company headquartered in Green Bay, Wisconsin. Its primary subsidiary, Associated Bank, provides banking and financial services to individuals, families, businesses, and institutions.

The company offers consumer and commercial deposit accounts, lending, mortgage banking, treasury management, investment and wealth management, and other financial services. Its commercial banking activities include business loans, equipment financing, commercial real estate lending, and specialized services for middle-market companies and other organizations.

Associated Bank primarily serves customers across Wisconsin, Illinois, and Minnesota through its branch network and digital banking platforms.