American Century Companies Inc. Raises Stock Holdings in Associated Banc-Corp $ASB

American Century Companies Inc. boosted its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 32.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,629,549 shares of the bank’s stock after purchasing an additional 645,676 shares during the quarter. American Century Companies Inc. owned approximately 1.58% of Associated Banc worth $67,606,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Associated Banc by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,151,111 shares of the bank’s stock valued at $101,256,000 after acquiring an additional 67,219 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 worth $61,927,000 after purchasing an additional 1,598,951 shares in the last quarter. Norges Bank bought a new stake in Associated Banc in the second quarter valued at about $48,373,000. Bank of New York Mellon Corp raised its stake in Associated Banc by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,746,951 shares of the bank’s stock valued at $42,608,000 after buying an additional 7,215 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Associated Banc by 7.0% during the 2nd quarter. Bank of America Corp DE now owns 1,136,565 shares of the bank’s stock worth $27,721,000 after buying an additional 74,556 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Performance

Shares of ASB stock opened at $26.35 on Thursday. Associated Banc-Corp has a 12-month low of $18.32 and a 12-month high of $29.51. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.20 and a beta of 0.80. The business has a 50 day simple moving average of $27.15 and a 200 day simple moving average of $26.32.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. During the same quarter in the previous year, the business earned $0.72 EPS. On average, equities research analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, March 2nd. Associated Banc’s payout ratio is currently 34.66%.

Associated Banc announced that its board has authorized a share repurchase program on Tuesday, January 27th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ASB shares. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, February 17th. Zacks Research raised shares of Associated Banc from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Barclays cut their target price on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Finally, Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Insider Activity at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the sale, the director directly owned 49,264 shares in the company, valued at approximately $1,380,377.28. The trade was a 11.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Williams sold 2,325 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total transaction of $65,216.25. Following the completion of the sale, the director directly owned 70,959 shares of the company’s stock, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 25,791 shares of company stock worth $734,175. 1.45% of the stock is owned by company insiders.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.