US Bancorp DE Grows Position in Associated Banc-Corp $ASB

US Bancorp DE lifted its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,262 shares of the bank’s stock after buying an additional 450 shares during the period. US Bancorp DE’s holdings in Associated Banc were worth $1,958,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ASB. Farther Finance Advisors LLC boosted its position in shares of Associated Banc by 38.0% during the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock valued at $90,000 after buying an additional 1,122 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Associated Banc by 11.6% during the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock valued at $118,000 after buying an additional 547 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Associated Banc by 37.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,111 shares of the bank’s stock valued at $701,000 after buying an additional 8,459 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Associated Banc by 4.7% during the first quarter. State of Alaska Department of Revenue now owns 19,210 shares of the bank’s stock valued at $432,000 after buying an additional 855 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Associated Banc by 2.0% during the first quarter. Retirement Systems of Alabama now owns 199,530 shares of the bank’s stock valued at $4,495,000 after buying an additional 3,869 shares during the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Associated Banc in a report on Wednesday, October 8th. Robert W. Baird increased their target price on Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Truist Financial increased their target price on Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Associated Banc presently has an average rating of “Hold” and a consensus target price of $28.11.

Insider Activity at Associated Banc

In related news, EVP Patrick Edward Ahern sold 3,342 shares of Associated Banc stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total transaction of $87,560.40. Following the sale, the executive vice president owned 41,472 shares of the company’s stock, valued at approximately $1,086,566.40. This trade represents a 7.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John A. Utz sold 13,000 shares of Associated Banc stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $27.24, for a total value of $354,120.00. Following the sale, the executive vice president directly owned 111,228 shares in the company, valued at $3,029,850.72. This trade represents a 10.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,342 shares of company stock valued at $494,360. 1.45% of the stock is owned by company insiders.

Associated Banc Stock Down 3.2%

NYSE ASB opened at $25.51 on Thursday. The stock’s 50-day moving average price is $25.88 and its 200-day moving average price is $24.16. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18. The company has a market capitalization of $4.23 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 1.06 and a beta of 0.82.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $366.98 million for the quarter, compared to the consensus estimate of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter last year, the company earned $0.52 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

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

Associated Banc 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.