Crescent Grove Advisors LLC Grows Position in Associated Banc-Corp (NYSE:ASB)

Crescent Grove Advisors LLC boosted its holdings in Associated Banc-Corp (NYSE:ASB) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,220 shares of the bank’s stock after buying an additional 862 shares during the period. Crescent Grove Advisors LLC’s holdings in Associated Banc were worth $2,144,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in Associated Banc by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,246 shares of the bank’s stock worth $347,000 after acquiring an additional 5,846 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Associated Banc by 11.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,451 shares of the bank’s stock worth $192,000 after acquiring an additional 884 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Associated Banc during the 1st quarter worth $91,000. Acadian Asset Management LLC acquired a new position in Associated Banc during the 1st quarter worth $262,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Associated Banc by 10.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,829 shares of the bank’s stock valued at $1,248,000 after buying an additional 5,073 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now owns 89,880 shares in the company, valued at approximately $1,905,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at $1,905,456. The disclosure for this sale can be found here. Insiders have sold a total of 21,710 shares of company stock worth $454,897 in the last 90 days. Company insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

ASB has been the subject of several analyst reports. Raymond James upped their target price on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $23.00 price objective on shares of Associated Banc in a report on Tuesday, April 9th. Piper Sandler increased their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Wells Fargo & Company raised their target price on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Barclays started coverage on Associated Banc in a report on Friday, March 8th. They set an “equal weight” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.63.

Associated Banc Trading Down 0.2 %

Shares of NYSE ASB traded down $0.05 during midday trading on Monday, hitting $20.27. The stock had a trading volume of 1,057,648 shares, compared to its average volume of 1,444,560. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $3.05 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The company’s 50-day simple moving average is $20.71 and its 200 day simple moving average is $19.57. Associated Banc-Corp has a fifty-two week low of $14.47 and a fifty-two week high of $22.16.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The firm had revenue of $322.22 million during the quarter, compared to analysts’ expectations of $325.89 million. Research analysts anticipate that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.34%. Associated Banc’s dividend payout ratio (DPR) is currently 77.88%.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.