Skandinaviska Enskilda Banken AB publ Increases Stock Position in Associated Banc-Corp $ASB

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 50.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 125,433 shares of the bank’s stock after acquiring an additional 42,133 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Associated Banc were worth $3,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Associated Banc by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after purchasing an additional 5,531 shares during the last quarter. Millennium Management LLC boosted its position in shares of Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after buying an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Associated Banc by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after buying an additional 60,758 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Associated Banc in the 2nd quarter worth about $328,000. Institutional investors own 82.98% of the company’s stock.

Insider Activity

In other Associated Banc news, 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 transaction, the director owned 49,264 shares of the company’s stock, valued at $1,380,377.28. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the transaction, the executive vice president owned 109,842 shares of the company’s stock, valued at approximately $2,900,927.22. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 59,607 shares of company stock worth $1,603,545 in the last quarter. 1.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ASB. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. Royal Bank Of Canada boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Piper Sandler increased their price target on Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $30.00 price objective (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Finally, Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.20.

Associated Banc Trading Up 0.7%

Shares of ASB stock opened at $28.55 on Friday. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $29.51. The firm has a fifty day moving average price of $27.09 and a 200-day moving average price of $26.16. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $393.52 million during the quarter, compared to analyst estimates 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 previous year, the company posted $0.72 earnings per share. As a group, equities analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc announced that its board has approved a share buyback plan on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. Associated Banc’s dividend payout ratio is currently 34.66%.

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.