LSV Asset Management Has $93.18 Million Stock Holdings in Associated Banc-Corp $ASB

LSV Asset Management decreased its position in Associated Banc-Corp (NYSE:ASB) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,624,263 shares of the bank’s stock after selling 192,780 shares during the period. LSV Asset Management owned 2.18% of Associated Banc worth $93,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASB. California State Teachers Retirement System boosted its stake in shares of Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after purchasing an additional 394 shares during the last quarter. Smartleaf Asset Management LLC lifted 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 buying an additional 408 shares during the period. US Bancorp DE boosted its stake in Associated Banc by 0.6% in the second quarter. US Bancorp DE now owns 80,262 shares of the bank’s stock valued at $1,958,000 after acquiring an additional 450 shares during the last quarter. Tidal Investments LLC grew its holdings in Associated Banc by 2.0% during the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after acquiring an additional 549 shares during the period. Finally, Arizona State Retirement System grew its holdings in Associated Banc by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 49,065 shares of the bank’s stock worth $1,261,000 after acquiring an additional 724 shares during the period. 82.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ASB. Raymond James Financial reissued an “outperform” rating and issued a $30.00 price target (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Royal Bank Of Canada increased their target price on Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.20.

Insider Buying and Selling

In other Associated Banc news, Director John B. Williams sold 2,325 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total transaction of $65,216.25. Following the completion of the transaction, the director owned 70,959 shares in the company, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick Edward Ahern sold 30,489 shares of Associated Banc stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the sale, the executive vice president directly owned 24,055 shares in the company, valued at $618,213.50. This represents a 55.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,007 shares of company stock valued at $1,418,613. Company insiders own 1.45% of the company’s stock.

Associated Banc Price Performance

Shares of ASB opened at $27.54 on Friday. The stock has a 50 day simple moving average of $26.90 and a 200 day simple moving average of $26.02. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $29.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $4.57 billion, a PE ratio of 9.94, a P/E/G ratio of 1.30 and a beta of 0.81.

Associated Banc (NYSE:ASB) last announced its quarterly 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 firm had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

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

Associated Banc declared that its board has authorized a share repurchase program on Tuesday, January 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.