Greenleaf Trust Buys 704 Shares of Associated Banc-Corp $ASB

Greenleaf Trust lifted its stake in Associated Banc-Corp (NYSE:ASB) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,103 shares of the bank’s stock after buying an additional 704 shares during the quarter. Greenleaf Trust’s holdings in Associated Banc were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP raised its stake in shares of Associated Banc by 77.7% in the first quarter. Quarry LP now owns 1,907 shares of the bank’s stock worth $43,000 after buying an additional 834 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Associated Banc by 17.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank’s stock worth $83,000 after purchasing an additional 559 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Associated Banc by 38.0% during the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock worth $90,000 after purchasing an additional 1,122 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Associated Banc by 11.6% during the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock worth $118,000 after purchasing an additional 547 shares in the last quarter. Finally, NBC Securities Inc. grew its position in shares of Associated Banc by 111,480.0% during the first quarter. NBC Securities Inc. now owns 5,579 shares of the bank’s stock worth $125,000 after purchasing an additional 5,574 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Associated Banc Price Performance

NYSE:ASB opened at $25.96 on Friday. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.00 and a beta of 0.82. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.18. The business has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $23.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The firm had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. During the same period last year, the company earned $0.52 EPS. Equities analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Associated Banc’s dividend payout ratio (DPR) is currently 119.48%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ASB. Weiss Ratings restated a “hold (c)” rating on shares of Associated Banc in a report on Saturday, September 27th. Robert W. Baird raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Barclays raised their price target on Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Truist Financial raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.78.

Insider Buying and Selling

In related news, EVP Matthew R. Braeger sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the sale, the executive vice president directly owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. This trade represents a 13.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Edward Ahern sold 3,342 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the sale, the executive vice president directly owned 41,472 shares of the company’s stock, valued at $1,086,566.40. This represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,342 shares of company stock valued at $494,360. Insiders own 1.45% of the company’s stock.

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.