Farther Finance Advisors LLC Has $69,000 Position in Associated Banc-Corp (NYSE:ASB)

Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 82.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,190 shares of the bank’s stock after buying an additional 1,438 shares during the period. Farther Finance Advisors LLC’s holdings in Associated Banc were worth $69,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after buying an additional 907 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Associated Banc during the 2nd quarter worth $38,000. Neo Ivy Capital Management acquired a new position in Associated Banc during the 2nd quarter worth approximately $93,000. nVerses Capital LLC bought a new stake in Associated Banc during the 2nd quarter worth $140,000. Finally, CWM LLC raised its holdings in Associated Banc by 30.6% in the 2nd quarter. CWM LLC now owns 7,084 shares of the bank’s stock valued at $150,000 after buying an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ASB. Royal Bank of Canada raised their price objective on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Piper Sandler boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a report on Tuesday, July 30th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Associated Banc presently has an average rating of “Hold” and a consensus price target of $23.89.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the transaction, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,641 shares of company stock worth $1,481,496. Company insiders own 1.45% of the company’s stock.

Associated Banc Trading Down 0.2 %

Shares of ASB stock opened at $27.58 on Wednesday. Associated Banc-Corp has a 52-week low of $16.59 and a 52-week high of $28.18. The business’s fifty day moving average is $22.51 and its 200 day moving average is $21.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $4.17 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.12 EPS for the current fiscal year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.23 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, December 2nd. Associated Banc’s payout ratio is 73.33%.

Associated Banc 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.