Associated Banc-Corp (NYSE:ASB) Position Raised by Cwm LLC

Cwm LLC lifted its position in shares of Associated Banc-Corp (NYSE:ASB) by 61.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,657 shares of the bank’s stock after acquiring an additional 4,824 shares during the period. Cwm LLC’s holdings in Associated Banc were worth $285,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ASB. Vanguard Group Inc. boosted its position in Associated Banc by 8.7% during the 4th quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank’s stock worth $431,798,000 after acquiring an additional 1,444,068 shares during the period. FMR LLC raised its stake in shares of Associated Banc by 9.4% during the fourth quarter. FMR LLC now owns 14,838,422 shares of the bank’s stock valued at $354,638,000 after purchasing an additional 1,272,441 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Associated Banc by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank’s stock worth $92,026,000 after purchasing an additional 265,378 shares during the period. Northern Trust Corp increased its stake in Associated Banc by 19.9% during the 4th quarter. Northern Trust Corp now owns 2,182,882 shares of the bank’s stock valued at $52,171,000 after buying an additional 362,267 shares during the period. Finally, First Trust Advisors LP increased its stake in Associated Banc by 87.7% during the 4th quarter. First Trust Advisors LP now owns 1,997,553 shares of the bank’s stock valued at $47,742,000 after buying an additional 933,062 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In other 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 purchased at an average price of $23.25 per share, with a total value of $300,157.50. Following the completion of the transaction, the chief executive officer owned 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASB. Barclays increased their price objective on shares of Associated Banc from $25.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Raymond James Financial restated an “outperform” rating and issued a $27.00 target price on shares of Associated Banc in a research report on Monday, April 28th. Keefe, Bruyette & Woods increased their price target on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday. Royal Bank Of Canada boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Piper Sandler upped their price objective on Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and a consensus price target of $27.44.

Associated Banc Trading Up 1.2%

Shares of NYSE ASB opened at $25.58 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.58. Associated Banc-Corp has a 12 month low of $18.32 and a 12 month high of $28.18. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 0.96 and a beta of 0.80. The business has a fifty day simple moving average of $24.27 and a 200-day simple moving average of $23.50.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Associated Banc had a net margin of 5.79% and a return on equity of 8.97%. The firm had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. During the same quarter last year, the business posted $0.52 EPS. Sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Monday, June 2nd. Associated Banc’s dividend payout ratio (DPR) is 106.98%.

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.