LSV Asset Management Raises Stock Holdings in Associated Banc-Corp $ASB

LSV Asset Management boosted its holdings in Associated Banc-Corp (NYSE:ASB) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,663,163 shares of the bank’s stock after purchasing an additional 38,900 shares during the period. LSV Asset Management owned about 2.21% of Associated Banc worth $94,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Associated Banc during the 3rd quarter worth approximately $51,000. Hoese & Co LLP bought a new position in Associated Banc during the 4th quarter worth approximately $52,000. Finally, Bessemer Group Inc. lifted its holdings in Associated Banc by 55.5% during the 3rd quarter. Bessemer Group Inc. now owns 2,074 shares of the bank’s stock worth $54,000 after buying an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Associated Banc Stock Down 0.1%

Shares of Associated Banc stock opened at $28.02 on Friday. 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 business’s 50 day simple moving average is $26.84 and its 200-day simple moving average is $26.64. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 1.62 and a beta of 0.79. Associated Banc-Corp has a twelve month low of $22.40 and a twelve month high of $29.51.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business 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 in the prior year, the firm earned $0.59 EPS. Equities research analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc announced that its board has approved a stock repurchase plan on Tuesday, January 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Associated Banc Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on ASB. Robert W. Baird increased 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. Zacks Research downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Stephens raised Associated Banc from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $30.00 to $29.00 in a report on Friday, March 27th. 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. Finally, Piper Sandler increased 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. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.30.

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.