The Manufacturers Life Insurance Company purchased a new stake in Associated Banc-Corp (NYSE:ASB – Free Report) during the second quarter, HoldingsChannel.com reports. The firm purchased 142,221 shares of the bank’s stock, valued at approximately $4,376,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Associated Banc during the second quarter worth $715,927,000. Vanguard Group Inc. lifted its stake in Associated Banc by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after buying an additional 545,185 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Associated Banc by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank’s stock worth $253,709,000 after buying an additional 170,080 shares during the last quarter. State Street Corp boosted its holdings in Associated Banc by 1.7% during the fourth quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock worth $224,404,000 after buying an additional 147,372 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Associated Banc by 127.6% during the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock worth $154,416,000 after buying an additional 3,347,699 shares during the period. 82.98% of the stock is currently owned by institutional investors.
Associated Banc Trading Down 1.1%
NYSE:ASB opened at $30.58 on Tuesday. Associated Banc-Corp has a fifty-two week low of $23.86 and a fifty-two week high of $32.46. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $5.78 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77. The business’s 50-day simple moving average is $31.00 and its 200-day simple moving average is $28.56.
Associated Banc Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s dividend payout ratio is 33.57%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Truist Financial boosted their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 target price on shares of Associated Banc in a research note on Wednesday, August 26th. Barclays increased their target price on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company lifted their price target on shares of Associated Banc from $32.00 to $36.00 and gave the stock 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 assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.
Check Out Our Latest Stock Report on ASB
Insider Activity at Associated Banc
In related news, EVP Randall J. Erickson sold 43,561 shares of the business’s 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 of the company’s stock, valued at approximately $1,797,155.64. The trade was a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Derek S. Meyer sold 10,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the transaction, the executive vice president owned 61,662 shares of the company’s stock, valued at approximately $1,895,489.88. This trade represents a 13.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 87,524 shares of company stock valued at $2,746,671 over the last three months. Insiders own 0.71% of the company’s stock.
Associated Banc Profile
Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.
On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.
Featured Stories
- Five stocks we like better than Associated Banc
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding ASB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Associated Banc-Corp (NYSE:ASB – Free Report).
Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.
