Associated Banc-Corp $ASB Shares Bought by Rhino Investment Partners Inc

Rhino Investment Partners Inc raised its position in shares of Associated Banc-Corp (NYSE:ASB) by 17.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,024,820 shares of the bank’s stock after purchasing an additional 155,229 shares during the quarter. Associated Banc makes up approximately 5.7% of Rhino Investment Partners Inc’s investment portfolio, making the stock its 5th largest holding. Rhino Investment Partners Inc owned approximately 0.62% of Associated Banc worth $23,089,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ASB. Quarry LP raised its position in shares of Associated Banc by 154.3% in the 4th quarter. Quarry LP now owns 1,073 shares of the bank’s stock worth $26,000 after acquiring an additional 651 shares in the last quarter. Versant Capital Management Inc increased its position in Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank’s stock valued at $36,000 after buying an additional 1,280 shares in the last quarter. NewEdge Advisors LLC raised its stake in Associated Banc by 13.1% during the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank’s stock worth $84,000 after buying an additional 408 shares during the period. Farther Finance Advisors LLC boosted its holdings in Associated Banc by 38.0% in the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock worth $90,000 after acquiring an additional 1,122 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Associated Banc by 11.6% in the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock worth $118,000 after acquiring an additional 547 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ASB shares. Wells Fargo & Company raised their price objective on Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Barclays lifted their price target on shares of Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. Truist Financial upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 28th. Royal Bank Of Canada raised their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, Piper Sandler lifted their price objective on shares of Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.78.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $25.3050 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.20 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. The stock’s fifty day simple moving average is $24.75 and its two-hundred day simple moving average is $23.49. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. The firm had revenue of $366.98 million during the quarter, compared to analyst estimates of $362.78 million. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, analysts forecast that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. Associated Banc’s dividend payout ratio (DPR) is currently 119.48%.

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.