Associated Banc-Corp (NYSE:ASB) Shares Bought by NBC Securities Inc.

NBC Securities Inc. raised its holdings in Associated Banc-Corp (NYSE:ASB) by 111,480.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,579 shares of the bank’s stock after buying an additional 5,574 shares during the period. NBC Securities Inc.’s holdings in Associated Banc were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ASB. Retirement Systems of Alabama increased its position in shares of Associated Banc by 8.5% during the fourth quarter. Retirement Systems of Alabama now owns 195,661 shares of the bank’s stock worth $4,676,000 after purchasing an additional 15,278 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Associated Banc by 2.9% during the 4th quarter. Yousif Capital Management LLC now owns 56,137 shares of the bank’s stock worth $1,342,000 after acquiring an additional 1,576 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Associated Banc by 6.6% in the 4th quarter. State of Alaska Department of Revenue now owns 18,355 shares of the bank’s stock valued at $438,000 after buying an additional 1,135 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Associated Banc by 8.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 44,700 shares of the bank’s stock valued at $1,068,000 after buying an additional 3,500 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Associated Banc by 6.9% in the 4th quarter. Rhumbline Advisers now owns 539,766 shares of the bank’s stock valued at $12,900,000 after buying an additional 34,919 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods cut their price target on Associated Banc from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Friday, April 25th. Wells Fargo & Company upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $27.00 to $26.00 in a report on Wednesday, April 9th. Raymond James reiterated an “outperform” rating and issued a $27.00 price target on shares of Associated Banc in a report on Monday, April 28th. Truist Financial assumed coverage on shares of Associated Banc in a research report on Tuesday, May 13th. They issued a “hold” rating and a $26.00 price objective for the company. Finally, Barclays reduced their price target on shares of Associated Banc from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Associated Banc Stock Performance

ASB opened at $23.68 on Tuesday. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The stock has a market cap of $3.93 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79. The business’s 50 day moving average is $22.07 and its 200-day moving average is $23.59. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $348.97 million for the quarter, compared to analysts’ expectations of $347.86 million. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.89%. The ex-dividend date is Monday, June 2nd. Associated Banc’s payout ratio is 106.98%.

Insider Activity

In other Associated Banc news, CEO Andrew J. Harmening acquired 12,910 shares of Associated Banc stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $23.25 per share, with a total value of $300,157.50. Following the purchase, the chief executive officer now owns 319,269 shares in the company, valued at approximately $7,423,004.25. This trade represents a 4.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.45% of the stock is currently owned by corporate insiders.

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.