N.E.W. Advisory Services LLC Increases Stake in Associated Banc-Corp (NYSE:ASB)

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

Several other institutional investors and hedge funds have also modified their holdings of the business. First Command Advisory Services Inc. purchased a new stake in shares of Associated Banc in the third quarter worth $29,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Associated Banc in the 3rd quarter worth approximately $82,000. GAMMA Investing LLC bought a new position in Associated Banc during the fourth quarter valued at $84,000. BKM Wealth Management LLC bought a new position in Associated Banc during the 4th quarter valued at about $92,000. Finally, NBC Securities Inc. purchased a new stake in shares of Associated Banc in the third quarter worth approximately $95,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

ASB has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Raymond James increased their target price on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Barclays increased their price objective on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Piper Sandler boosted their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Associated Banc has a consensus rating of “Hold” and a consensus price target of $23.13.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, the executive vice president now owns 89,880 shares in the company, valued at $1,905,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP John A. Utz sold 14,010 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at $1,905,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,229 shares of company stock worth $616,900. Insiders own 1.45% of the company’s stock.

Associated Banc Stock Performance

Shares of ASB stock traded up $0.01 during mid-day trading on Tuesday, reaching $22.16. The 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. Associated Banc-Corp has a 1-year low of $14.47 and a 1-year high of $22.48. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.30 and a beta of 0.99. The business’s fifty day moving average is $20.93 and its 200-day moving average is $20.05.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. Associated Banc’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. On average, research analysts forecast that Associated Banc-Corp will post 2.11 earnings per share for the current year.

Associated Banc Announces Dividend

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

Associated Banc Company Profile

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.