10,071 Shares in Associated Banc-Corp (NYSE:ASB) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in Associated Banc-Corp (NYSE:ASB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,071 shares of the bank’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASB. First Command Advisory Services Inc. bought a new stake in Associated Banc during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new position in shares of Associated Banc in the fourth quarter valued at approximately $92,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Associated Banc during the third quarter worth $82,000. NBC Securities Inc. acquired a new stake in shares of Associated Banc during the third quarter worth $95,000. Finally, Covestor Ltd lifted its position in Associated Banc by 15.3% in the 3rd quarter. Covestor Ltd now owns 8,341 shares of the bank’s stock valued at $143,000 after acquiring an additional 1,109 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value 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 $1,229,225.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Associated Banc 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP John A. Utz sold 14,010 shares of the company’s 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 completion of the transaction, the executive vice president now owns 89,880 shares in the company, valued at $1,905,456. The disclosure for this sale can be found here. Insiders have sold a total of 21,710 shares of company stock valued at $454,897 over the last 90 days. 1.45% of the stock is currently owned by insiders.

Associated Banc Price Performance

NYSE:ASB opened at $21.59 on Tuesday. The stock has a market capitalization of $3.25 billion, a PE ratio of 21.81, a P/E/G ratio of 1.27 and a beta of 1.00. Associated Banc-Corp has a 1-year low of $14.47 and a 1-year high of $22.16. The firm has a fifty day simple moving average of $20.80 and a 200 day simple moving average of $19.83. 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 (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. On average, research analysts expect that Associated Banc-Corp will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler lifted 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Tuesday, April 9th. Wells Fargo & Company upped 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. Stephens reiterated an “equal weight” rating and issued a $23.00 price objective on shares of Associated Banc in a report on Friday. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.