Farther Finance Advisors LLC Has $46,000 Holdings in Associated Banc-Corp $ASB

Farther Finance Advisors LLC lowered its stake in Associated Banc-Corp (NYSE:ASB) by 53.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,885 shares of the bank’s stock after selling 2,187 shares during the quarter. Farther Finance Advisors LLC’s holdings in Associated Banc were worth $46,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Associated Banc by 200.3% in the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock valued at $42,853,000 after acquiring an additional 1,287,458 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Associated Banc during the 1st quarter valued at $23,510,000. Invesco Ltd. boosted its holdings in shares of Associated Banc by 83.2% during the 1st quarter. Invesco Ltd. now owns 1,308,946 shares of the bank’s stock valued at $29,491,000 after acquiring an additional 594,361 shares in the last quarter. Finally, Leeward Investments LLC MA bought a new stake in Associated Banc during the 1st quarter worth $12,345,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ASB has been the subject of several research reports. Robert W. Baird increased their target price on Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company upped their price objective on Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Barclays raised their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Associated Banc in a research report on Saturday, September 27th. Finally, Piper Sandler upped their price target on shares of Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.78.

Associated Banc Price Performance

Shares of NYSE ASB opened at $26.62 on Tuesday. The firm has a market capitalization of $4.41 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.00 and a beta of 0.82. The firm’s 50-day moving average price is $25.70 and its 200-day moving average price is $24.03. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $362.78 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a yield of 3.5%. Associated Banc’s dividend payout ratio is presently 119.48%.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 13,000 shares of Associated Banc stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $27.24, for a total transaction of $354,120.00. Following the completion of the transaction, the executive vice president directly owned 111,228 shares in the company, valued at $3,029,850.72. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew R. Braeger sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the sale, the executive vice president directly owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. The trade was a 13.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,342 shares of company stock valued at $494,360. Corporate insiders own 1.45% of the company’s stock.

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.