N.E.W. Advisory Services LLC Acquires 835 Shares of Associated Banc-Corp (NYSE:ASB)

N.E.W. Advisory Services LLC grew its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,963 shares of the bank’s stock after acquiring an additional 835 shares during the period. N.E.W. Advisory Services LLC’s holdings in Associated Banc were worth $256,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in Associated Banc during the 4th quarter worth approximately $892,000. Walleye Capital LLC acquired a new position in Associated Banc in the third quarter valued at $7,561,000. AQR Capital Management LLC grew its holdings in Associated Banc by 92.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock worth $24,524,000 after acquiring an additional 687,552 shares during the period. Deutsche Bank AG raised its position in shares of Associated Banc by 7.7% in the 3rd quarter. Deutsche Bank AG now owns 123,392 shares of the bank’s stock worth $2,111,000 after acquiring an additional 8,836 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Associated Banc by 2,344.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock valued at $12,134,000 after purchasing an additional 680,161 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insider Activity

In other Associated Banc news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total transaction of $52,785.00. Following the transaction, the director now owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the sale, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders sold a total of 29,229 shares of company stock worth $616,900 over the last quarter. Insiders own 1.45% of the company’s stock.

Associated Banc Stock Up 0.0 %

NYSE ASB traded up $0.01 during trading hours on Tuesday, hitting $22.16. The company’s stock had a trading volume of 1,171,530 shares, compared to its average volume of 1,438,775. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The company’s 50-day simple moving average is $20.93 and its two-hundred day simple moving average is $20.05. The company has a market capitalization of $3.34 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. Associated Banc-Corp has a 52 week low of $14.47 and a 52 week high of $22.48.

Associated Banc (NYSE:ASB) last announced its earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. Associated Banc’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Research analysts anticipate that Associated Banc-Corp will post 2.11 EPS for the current fiscal year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 3.97%. Associated Banc’s payout ratio is 88.89%.

Wall Street Analyst Weigh In

ASB has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Barclays raised their price target on shares of Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Stephens reiterated an “equal weight” rating and set a $23.00 price objective on shares of Associated Banc in a report on Friday, April 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $23.00 price objective on shares of Associated Banc in a research report on Tuesday, April 9th. Finally, Raymond James upped their price target on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Associated Banc has an average rating of “Hold” and an average price target of $23.13.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.