Wedge Capital Management L L P NC Makes New $2.05 Million Investment in Associated Banc-Corp $ASB

Wedge Capital Management L L P NC bought a new position in Associated Banc-Corp (NYSE:ASB) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 66,560 shares of the bank’s stock, valued at approximately $2,048,000.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after acquiring an additional 5,531 shares during the last quarter. Millennium Management LLC increased 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 worth $6,486,000 after acquiring an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after purchasing an additional 1,598,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Associated Banc by 13.9% during the first 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 purchasing an additional 60,758 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Associated Banc during the second quarter valued at approximately $328,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc News Summary

Here are the key news stories impacting Associated Banc this week:

• Positive Sentiment: Near-term earnings estimates improved. Zacks Research raised its FY2026 EPS forecast to $2.95 from $2.92, and increased estimates for Q3 2026 to $0.75 from $0.74 and Q1 2027 to $0.76 from $0.75. These revisions suggest somewhat better expected operating performance in the nearer term. Associated Banc stock information
• Positive Sentiment: Dividend supports investor demand. Associated Banc declared a quarterly dividend of $0.24, or $0.96 annualized, representing an approximately 3.0% yield and a payout ratio of about 33.6%. The bank’s latest quarterly results also exceeded expectations, with EPS of $0.73 versus the $0.72 consensus estimate and revenue of $454.5 million versus forecasts of $438.0 million.
• Positive Sentiment: Institutional ownership remains strong. Several large investors, including Goldman Sachs, Millennium Management and UBS Asset Management, increased their positions during the first half of the year. Institutions and hedge funds own approximately 83% of ASB’s shares.
• Neutral Sentiment: Analyst sentiment is broadly constructive but valuation appears near targets. The consensus rating is “Moderate Buy,” although the average price target of $31.60 is below the stock’s recent trading level. Wells Fargo raised its target to $36 and maintained an “overweight” rating, while other analysts remain at “hold” or “market perform.”
• Negative Sentiment: Longer-term earnings expectations were reduced. Zacks cut its Q2 2028 EPS estimate to $0.84 from $0.94 and lowered FY2028 EPS to $3.35 from $3.56. It also trimmed Q1 2028 and Q2 2027 forecasts, partially offsetting the near-term upgrades. Zacks Associated Banc estimates
• Negative Sentiment: Executives sold significant portions of their holdings. EVP Gregory Warsek sold 16,300 shares for approximately $521,763, reducing his position by 54.1%. EVP Randall Erickson sold 43,561 shares worth about $1.40 million, cutting his ownership by 43.7%. While insider sales can reflect personal financial planning, the size of these transactions may weigh on sentiment. Associated Banc insider sales

Associated Banc Price Performance

Shares of ASB stock opened at $32.35 on Friday. Associated Banc-Corp has a 52-week low of $23.86 and a 52-week high of $32.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $6.11 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.09 and a beta of 0.77. The stock has a 50 day moving average price of $30.55 and a 200 day moving average price of $28.32.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same quarter in the previous year, the business earned $0.65 EPS. As a group, sell-side analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s payout ratio is currently 33.57%.

Insider Activity

In related news, EVP Gregory Warsek sold 16,300 shares of Associated Banc stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the sale, the executive vice president owned 13,809 shares in the company, valued at $442,026.09. This trade represents a 54.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nicole M. Kitowski sold 7,663 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total transaction of $236,863.33. Following the completion of the sale, the executive vice president directly owned 45,327 shares of the company’s stock, valued at approximately $1,401,057.57. This trade represents a 14.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 101,823 shares of company stock valued at $3,150,761. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ASB. Truist Financial lifted their target price on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Robert W. Baird boosted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Barclays raised their price target on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Piper Sandler lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.60.

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.