Quantinno Capital Management LP Acquires 87,751 Shares of Associated Banc-Corp $ASB

Quantinno Capital Management LP raised its stake in shares of Associated Banc-Corp (NYSE:ASB) by 193.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,184 shares of the bank’s stock after buying an additional 87,751 shares during the quarter. Quantinno Capital Management LP’s holdings in Associated Banc were worth $3,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Associated Banc by 6.0% in 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 grew its stake in Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after acquiring an additional 136,648 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Associated Banc by 13.9% in 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 valued at $11,184,000 after acquiring an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Associated Banc in the 2nd quarter valued at $328,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Associated Banc news, EVP John A. Utz sold 5,000 shares of the firm’s 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 sale, the executive vice president owned 118,156 shares of the company’s stock, valued at $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $404,089.74. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,962 shares of company stock worth $1,233,303 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Associated Banc Stock Performance

NYSE:ASB opened at $31.28 on Friday. The firm has a market capitalization of $5.91 billion, a PE ratio of 10.94, a PEG ratio of 1.06 and a beta of 0.77. The stock’s fifty day moving average is $30.09 and its 200 day moving average is $28.14. Associated Banc-Corp has a fifty-two week low of $23.66 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The company had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that Associated Banc-Corp will post 2.91 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Associated Banc’s payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

ASB has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Piper Sandler lifted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods boosted their target price 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. Robert W. Baird raised their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.10.

Associated Banc Company 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.