Louisiana State Employees Retirement System Acquires Shares of 47,400 Associated Banc-Corp $ASB

Louisiana State Employees Retirement System bought a new position in Associated Banc-Corp (NYSE:ASB) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,400 shares of the bank’s stock, valued at approximately $1,226,000.

A number of other institutional investors have also recently made changes to their positions in ASB. SG Americas Securities LLC increased its position in shares of Associated Banc by 69.6% during the first quarter. SG Americas Securities LLC now owns 767,671 shares of the bank’s stock valued at $19,852,000 after acquiring an additional 315,064 shares in the last quarter. Hsbc Holdings PLC lifted its position in Associated Banc by 190.1% in the 4th quarter. Hsbc Holdings PLC now owns 37,576 shares of the bank’s stock valued at $968,000 after acquiring an additional 24,622 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Associated Banc by 20,284.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 104,572 shares of the bank’s stock valued at $2,694,000 after purchasing an additional 104,059 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Associated Banc by 18,083.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,637 shares of the bank’s stock worth $145,000 after purchasing an additional 5,606 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Associated Banc by 29.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,501 shares of the bank’s stock worth $399,000 after purchasing an additional 3,560 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Performance

ASB stock opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. Associated Banc-Corp has a 1 year low of $23.63 and a 1 year high of $31.50. The company has a market cap of $5.78 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.77 and a beta of 0.76. The stock’s fifty day moving average price is $28.63 and its 200-day moving average price is $27.35.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, equities analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays raised Associated Banc from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $33.00 in a research report on Tuesday, April 7th. Stephens upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $30.00 to $29.00 in a research note on Friday, March 27th. Wells Fargo & Company raised their price target on shares of Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Truist Financial raised their price target on shares of Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 27th. Finally, Zacks Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.70.

Insider Buying and Selling at Associated Banc

In related news, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total value of $140,850.00. Following the transaction, the executive vice president owned 11,777 shares of the company’s stock, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total transaction of $404,089.74. Following the sale, the executive vice president owned 21,385 shares of the company’s stock, valued at $604,340.10. This trade represents a 40.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,299 shares of company stock worth $801,760 over the last quarter. Company insiders own 0.71% of the company’s stock.

About Associated Banc

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.