Crescent Grove Advisors LLC Has $3.67 Million Stock Holdings in Associated Banc-Corp $ASB

Crescent Grove Advisors LLC lifted its stake in shares of Associated Banc-Corp (NYSE:ASB) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,395 shares of the bank’s stock after purchasing an additional 27,024 shares during the period. Crescent Grove Advisors LLC’s holdings in Associated Banc were worth $3,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ASB. Norges Bank acquired a new stake in shares of Associated Banc during the fourth quarter worth $54,660,000. First Trust Advisors LP raised its position in shares of Associated Banc by 679.4% during the third quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock worth $57,171,000 after purchasing an additional 1,938,393 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Associated Banc by 139.1% during 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 during the period. Balyasny Asset Management L.P. raised its position in shares of Associated Banc by 4,883.7% during the third quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock worth $35,625,000 after purchasing an additional 1,357,862 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Associated Banc by 32.5% during the third quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock worth $67,606,000 after purchasing an additional 645,676 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Stock Performance

Shares of ASB stock opened at $26.91 on Thursday. Associated Banc-Corp has a 1-year low of $22.48 and a 1-year high of $29.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.59 and a beta of 0.77. The stock’s fifty day simple moving average is $27.35 and its 200-day simple moving average is $26.78.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, sell-side analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.6%. Associated Banc’s payout ratio is currently 33.33%.

Insiders Place Their Bets

In other Associated Banc news, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the transaction, the director owned 67,420 shares in the company, valued at $1,899,895.60. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the transaction, the executive vice president owned 21,385 shares in the company, valued at $604,340.10. This trade represents a 40.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

ASB has been the topic of a number of recent analyst reports. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Robert W. Baird boosted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Zacks Research downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $33.00 in a report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.30.

Associated Banc 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.