Intech Investment Management LLC Trims Stock Holdings in Associated Banc-Corp $ASB

Intech Investment Management LLC lowered its holdings in Associated Banc-Corp (NYSE:ASB) by 33.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,826 shares of the bank’s stock after selling 44,001 shares during the period. Intech Investment Management LLC owned about 0.05% of Associated Banc worth $2,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 buying an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in Associated Banc during the 3rd quarter worth approximately $51,000. Hoese & Co LLP bought a new position in Associated Banc during the 4th quarter worth approximately $52,000. Finally, Bessemer Group Inc. lifted its holdings in Associated Banc by 55.5% during the 3rd quarter. Bessemer Group Inc. now owns 2,074 shares of the bank’s stock worth $54,000 after buying an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

ASB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Wells Fargo & Company increased their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, February 17th. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Truist Financial increased their target price on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc presently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

Insider Activity at Associated Banc

In related news, EVP Dennis Deloye sold 14,299 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the completion of the sale, the director directly owned 67,420 shares in the company, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.71% of the company’s stock.

Associated Banc Stock Down 2.5%

Shares of Associated Banc stock opened at $26.91 on Thursday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.59 and a beta of 0.77. Associated Banc-Corp has a twelve month low of $22.48 and a twelve month 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 business’s 50 day simple moving average is $27.35 and its 200-day simple moving average is $26.78.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter last year, the business posted $0.59 EPS. Equities research analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.6%. Associated Banc’s dividend payout ratio (DPR) is 33.33%.

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.