299,403 Shares in Associated Banc-Corp $ASB Bought by Castleark Management LLC

Castleark Management LLC purchased a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 299,403 shares of the bank’s stock, valued at approximately $9,213,000. Castleark Management LLC owned 0.16% of Associated Banc as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. IAG Wealth Partners LLC boosted its holdings in Associated Banc by 4,250.0% during the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Associated Banc in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Associated Banc during the third quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC bought a new position in shares of Associated Banc in the fourth quarter worth approximately $56,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Trading Down 0.2%

Shares of ASB opened at $30.85 on Wednesday. Associated Banc-Corp has a 1-year low of $23.86 and a 1-year high of $32.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $30.87 and its 200-day moving average price is $28.51. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.05 and a beta of 0.77.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same period last year, the business posted $0.65 earnings per share. Sell-side analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

ASB has been the subject of several analyst reports. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Raymond James Financial upped their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wells Fargo & Company raised their target price on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Truist Financial upped their price target on Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Finally, Barclays lifted their price objective on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

Insider Activity at Associated Banc

In other news, EVP Gregory Warsek sold 16,300 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total transaction of $521,763.00. Following the sale, the executive vice president owned 13,809 shares in the company, valued at approximately $442,026.09. The trade was a 54.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Randall J. Erickson sold 43,561 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the completion of the sale, the executive vice president directly owned 56,091 shares in the company, valued at $1,797,155.64. This represents a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 87,524 shares of company stock valued at $2,746,671 over the last ninety days. Insiders own 0.71% of the company’s stock.

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.