Associated Banc-Corp $ASB Holdings Lowered by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in Associated Banc-Corp (NYSE:ASB) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,992,972 shares of the bank’s stock after selling 115,032 shares during the period. Vanguard Group Inc. owned 0.11% of Associated Banc worth $462,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,139 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after acquiring an additional 408 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Associated Banc by 345.5% during the 2nd 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 in the last quarter. Quent Capital LLC acquired a new position in shares of Associated Banc in the 3rd quarter worth approximately $34,000. Finally, First Horizon Corp bought a new stake in shares of Associated Banc in the 3rd quarter worth approximately $39,000. Institutional investors own 82.98% of the company’s stock.

Insider Transactions at Associated Banc

In related news, EVP Patrick Edward Ahern sold 14,731 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total transaction of $427,640.93. Following the transaction, the executive vice president owned 39,401 shares of the company’s stock, valued at approximately $1,143,811.03. This trade represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 6,600 shares of Associated Banc stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the completion of the sale, the director owned 49,264 shares of the company’s stock, valued at $1,380,377.28. This trade represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 59,607 shares of company stock worth $1,603,545 in the last ninety days. Company insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group restated a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Tuesday, December 2nd. Barclays decreased their target price on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Piper Sandler boosted their target price on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Truist Financial increased their price target on Associated Banc from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Finally, Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.20.

Associated Banc Stock Up 1.3%

Shares of Associated Banc stock opened at $27.60 on Thursday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $29.51. The company has a market cap of $4.58 billion, a P/E ratio of 9.97, a P/E/G ratio of 1.24 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $27.13 and a 200 day moving average price of $26.25.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The company had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same quarter in the prior year, the company earned $0.72 EPS. As a group, analysts expect that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc declared that its board has authorized a stock buyback plan on Tuesday, January 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, March 2nd. Associated Banc’s dividend payout ratio (DPR) is currently 34.66%.

About Associated Banc

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.