Dimensional Fund Advisors LP Grows Stock Position in Associated Banc-Corp $ASB

Dimensional Fund Advisors LP increased its position in shares of Associated Banc-Corp (NYSE:ASB) by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,811,228 shares of the bank’s stock after purchasing an additional 170,080 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.91% of Associated Banc worth $253,709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of Associated Banc by 0.3% during the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after buying an additional 394 shares in the last quarter. LPL Financial LLC boosted its position in Associated Banc by 2.3% during the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock worth $491,000 after acquiring an additional 426 shares during the last quarter. Tidal Investments LLC grew its stake in Associated Banc by 2.0% during the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after acquiring an additional 549 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Associated Banc by 1.8% in the 4th quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after acquiring an additional 619 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Associated Banc by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock worth $1,018,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ASB. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird raised their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Barclays lifted their price target on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Zacks Research cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Piper Sandler lifted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Transactions at Associated Banc

In other news, EVP Dennis Deloye sold 14,299 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $604,340.10. This trade represents a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew R. Braeger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the sale, the executive vice president directly owned 11,777 shares in the company, valued at approximately $331,758.09. The trade was a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,299 shares of company stock worth $801,760 in the last 90 days. Insiders own 0.71% of the company’s stock.

Associated Banc Stock Performance

NYSE:ASB opened at $30.69 on Thursday. Associated Banc-Corp has a fifty-two week low of $23.63 and a fifty-two week high of $31.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day moving average price of $29.33 and a 200 day moving average price of $27.76. The stock has a market capitalization of $5.79 billion, a P/E ratio of 10.66, a PEG ratio of 1.14 and a beta of 0.76.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) 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 company had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. Equities research analysts forecast that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s dividend payout ratio is presently 33.33%.

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.