Crescent Grove Advisors LLC Has $4.20 Million Holdings in Associated Banc-Corp $ASB

Crescent Grove Advisors LLC increased its position in shares of Associated Banc-Corp (NYSE:ASB) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,344 shares of the bank’s stock after purchasing an additional 19,949 shares during the period. Crescent Grove Advisors LLC’s holdings in Associated Banc were worth $4,198,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after buying an additional 5,531 shares in the last quarter. Millennium Management LLC raised its stake in shares of Associated Banc by 90.4% in the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after buying an additional 136,648 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Associated Banc by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after acquiring an additional 60,758 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Associated Banc during the 2nd quarter valued at about $328,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Price Performance

NYSE:ASB opened at $31.27 on Friday. The firm has a market cap of $5.90 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.76. The company’s 50-day moving average price is $29.14 and its two-hundred day moving average price is $27.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a 12 month low of $23.63 and a 12 month high of $31.83.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.91 EPS for the current fiscal year.

Associated Banc Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Stephens raised Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $30.00 to $29.00 in a report on Friday, March 27th. Finally, Wells Fargo & Company increased their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insiders Place Their Bets

In other news, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value of $140,850.00. Following the completion of the sale, the executive vice president directly owned 11,777 shares in the company, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at $3,405,255.92. This represents a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,299 shares of company stock worth $801,760 in the last three months. Company insiders own 0.71% of the company’s stock.

Associated Banc Profile

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.