Hsbc Holdings PLC Purchases 24,622 Shares of Associated Banc-Corp $ASB

Hsbc Holdings PLC increased its position in Associated Banc-Corp (NYSE:ASB) by 190.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,576 shares of the bank’s stock after buying an additional 24,622 shares during the quarter. Hsbc Holdings PLC’s holdings in Associated Banc were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASB. Rockefeller Capital Management L.P. boosted its position 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 buying an additional 104,059 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Associated Banc by 18,083.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,637 shares of the bank’s stock valued at $145,000 after acquiring an additional 5,606 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Associated Banc by 29.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,501 shares of the bank’s stock valued at $399,000 after acquiring an additional 3,560 shares during the period. XTX Topco Ltd bought a new position in shares of Associated Banc during the fourth quarter valued at about $1,717,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Associated Banc by 327.4% during the fourth quarter. Voloridge Investment Management LLC now owns 807,808 shares of the bank’s stock valued at $20,809,000 after acquiring an additional 618,789 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

Associated Banc Trading Up 0.5%

NYSE:ASB opened at $30.75 on Tuesday. The company has a 50-day moving average price of $28.93 and a 200-day moving average price of $27.52. Associated Banc-Corp has a 12 month low of $23.63 and a 12 month high of $31.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.13 and a beta of 0.76.

Associated Banc (NYSE:ASB) last announced 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. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The firm had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities analysts predict that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Dividend Announcement

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

Insider Transactions at Associated Banc

In other news, EVP Dennis Deloye sold 14,299 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the transaction, the executive vice president owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. This represents a 40.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president owned 11,777 shares of the company’s stock, valued at approximately $331,758.09. The trade was a 29.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,299 shares of company stock worth $801,760 over the last quarter. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ASB shares. Stephens raised Associated Banc from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $30.00 to $29.00 in a research note on Friday, March 27th. Raymond James Financial upped their price target on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wells Fargo & Company increased their price objective on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Keefe, Bruyette & Woods lifted their price objective on Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Piper Sandler boosted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.