Associated Banc-Corp (NYSE:ASB) Shares Purchased by M&G Plc

M&G Plc boosted its stake in Associated Banc-Corp (NYSE:ASB) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,903 shares of the bank’s stock after acquiring an additional 12,142 shares during the period. M&G Plc’s holdings in Associated Banc were worth $9,326,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. LSV Asset Management increased its holdings in Associated Banc by 43.3% in the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after buying an additional 1,224,216 shares during the last quarter. Millennium Management LLC raised its position in shares of Associated Banc by 291.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after acquiring an additional 1,163,807 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Associated Banc by 12.0% during the second quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock worth $24,309,000 after purchasing an additional 123,271 shares during the last quarter. Interval Partners LP boosted its holdings in Associated Banc by 27.6% in the second quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock worth $9,368,000 after purchasing an additional 95,928 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Associated Banc by 134.7% during the third quarter. Assenagon Asset Management S.A. now owns 129,939 shares of the bank’s stock valued at $2,799,000 after purchasing an additional 74,574 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ASB. Piper Sandler lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Barclays increased their price target on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Robert W. Baird dropped their target price on Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.89.

Associated Banc Price Performance

Shares of NYSE ASB opened at $26.87 on Friday. The firm’s 50-day simple moving average is $22.24 and its 200 day simple moving average is $21.72. The stock has a market cap of $4.06 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.79 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a fifty-two week low of $16.59 and a fifty-two week high of $28.17.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. During the same period in the prior year, the business posted $0.53 EPS. Equities analysts expect that Associated Banc-Corp will post 2.1 EPS for the current year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.23 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.42%. Associated Banc’s dividend payout ratio (DPR) is 73.33%.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 19,044 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the sale, the executive vice president now directly owns 100,204 shares in the company, valued at approximately $2,423,934.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John A. Utz sold 19,044 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,105 shares of company stock valued at $671,324. Corporate insiders own 1.45% of the company’s stock.

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.