Sequoia Financial Advisors LLC Makes New Investment in Associated Banc-Corp $ASB

Sequoia Financial Advisors LLC bought a new position in Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, Holdings Channel.com reports. The fund bought 13,815 shares of the bank’s stock, valued at approximately $337,000.

Several other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Associated Banc by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 379,996 shares of the bank’s stock worth $8,561,000 after buying an additional 10,448 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Associated Banc by 11.6% during the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock worth $118,000 after buying an additional 547 shares during the period. HighTower Advisors LLC bought a new stake in shares of Associated Banc during the 1st quarter worth $311,000. Moody Aldrich Partners LLC bought a new stake in shares of Associated Banc during the 1st quarter worth $1,842,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Associated Banc during the 1st quarter worth $541,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Trading Up 0.2%

ASB opened at $25.36 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.21 billion, a PE ratio of 32.93, a PEG ratio of 1.01 and a beta of 0.82. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18. The firm has a 50-day moving average price of $25.93 and a two-hundred day moving average price of $24.27.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The firm had revenue of $366.98 million during the quarter, compared to analysts’ expectations of $362.78 million. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. During the same quarter last year, the company posted $0.52 EPS. As a group, equities analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Associated Banc’s payout ratio is 119.48%.

Analysts Set New Price Targets

ASB has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 28th. Robert W. Baird upped their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Associated Banc in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on shares of Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada increased their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and an average price target of $28.11.

Insider Buying and Selling

In related news, EVP Matthew R. Braeger sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the sale, the executive vice president directly owned 13,346 shares of the company’s stock, valued at $351,533.64. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $27.24, for a total transaction of $354,120.00. Following the sale, the executive vice president directly owned 111,228 shares of the company’s stock, valued at approximately $3,029,850.72. This trade represents a 10.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,342 shares of company stock valued at $494,360 over the last ninety days. Insiders own 1.10% of the company’s stock.

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.