Northwestern Mutual Wealth Management Co. Buys 197,237 Shares of Associated Banc-Corp $ASB

Northwestern Mutual Wealth Management Co. grew its stake in shares of Associated Banc-Corp (NYSE:ASB) by 6,574.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,237 shares of the bank’s stock after buying an additional 197,237 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Associated Banc were worth $5,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASB. Smartleaf Asset Management LLC grew its stake in shares of Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after buying an additional 408 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Associated Banc during the third quarter valued at about $51,000. Hoese & Co LLP bought a new position in shares of Associated Banc during the fourth quarter valued at about $52,000. Finally, Bessemer Group Inc. grew its stake in shares of Associated Banc by 55.5% during the third quarter. Bessemer Group Inc. now owns 2,074 shares of the bank’s stock valued at $54,000 after buying an additional 740 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Down 0.1%

NYSE ASB opened at $28.02 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. The stock has a market capitalization of $4.65 billion, a PE ratio of 9.73, a PEG ratio of 1.62 and a beta of 0.79. Associated Banc-Corp has a 1 year low of $22.40 and a 1 year high of $29.51. The business’s 50-day moving average is $26.84 and its 200 day moving average is $26.64.

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, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period last year, the firm earned $0.59 earnings per share. Sell-side analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc announced that its Board of Directors has approved a stock buyback program on Tuesday, January 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.4%. Associated Banc’s dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling

In other Associated Banc news, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total value of $112,720.00. Following the completion of the sale, the director directly owned 67,420 shares in the company, valued at $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ASB shares. Raymond James Financial reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Associated Banc in a research note on Monday, April 27th. Wells Fargo & Company raised their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Barclays raised Associated Banc from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, April 7th. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Associated Banc currently has an average rating of “Moderate Buy” and an average target price of $30.30.

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.