Fox Run Management L.L.C. Has $1.20 Million Stock Position in Associated Banc-Corp $ASB

Fox Run Management L.L.C. raised its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 376.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,156 shares of the bank’s stock after buying an additional 38,841 shares during the quarter. Fox Run Management L.L.C.’s holdings in Associated Banc were worth $1,199,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the period. AQR Capital Management LLC grew its position in Associated Banc by 200.3% in the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock worth $42,853,000 after purchasing an additional 1,287,458 shares during the last quarter. Nuveen LLC acquired a new stake in Associated Banc in the 1st quarter worth $23,510,000. Invesco Ltd. increased its holdings in shares of Associated Banc by 83.2% during the 1st quarter. Invesco Ltd. now owns 1,308,946 shares of the bank’s stock worth $29,491,000 after purchasing an additional 594,361 shares during the period. Finally, Heartland Advisors Inc. raised its position in shares of Associated Banc by 92.4% during the first quarter. Heartland Advisors Inc. now owns 769,546 shares of the bank’s stock valued at $17,338,000 after buying an additional 369,546 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Price Performance

Associated Banc stock opened at $25.56 on Friday. The business has a 50 day simple moving average of $25.73 and a 200 day simple moving average of $24.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $4.24 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. Associated Banc-Corp has a one year low of $18.32 and a one year high of $28.18.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.The firm had revenue of $386.49 million during the quarter, compared to analyst estimates of $377.94 million. During the same period in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.24 per share. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 1st. Associated Banc’s payout ratio is currently 102.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Associated Banc in a report on Wednesday, October 8th. Truist Financial boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, July 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $30.00 target price (up from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Finally, Royal Bank Of Canada lifted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.44.

Insiders Place Their Bets

In other news, EVP Matthew R. Braeger sold 2,000 shares of the firm’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 owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick Edward Ahern sold 3,342 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the transaction, the executive vice president directly owned 41,472 shares in the company, valued at $1,086,566.40. The trade was a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 18,342 shares of company stock valued at $494,360. 1.45% of the stock is currently owned by insiders.

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.