NorthRock Partners LLC Has $213,000 Holdings in Associated Banc-Corp $ASB

NorthRock Partners LLC lowered its position in shares of Associated Banc-Corp (NYSE:ASB) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,728 shares of the bank’s stock after selling 516 shares during the quarter. NorthRock Partners LLC’s holdings in Associated Banc were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of Associated Banc by 38.0% during the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock valued at $90,000 after purchasing an additional 1,122 shares during the period. GAMMA Investing LLC raised its holdings in shares of Associated Banc by 11.6% in the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock worth $118,000 after acquiring an additional 547 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Associated Banc by 37.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,111 shares of the bank’s stock worth $701,000 after purchasing an additional 8,459 shares in the last quarter. State of Alaska Department of Revenue grew its position in Associated Banc by 4.7% in the 1st quarter. State of Alaska Department of Revenue now owns 19,210 shares of the bank’s stock worth $432,000 after purchasing an additional 855 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Associated Banc by 2.0% in the 1st quarter. Retirement Systems of Alabama now owns 199,530 shares of the bank’s stock worth $4,495,000 after purchasing an additional 3,869 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Insider Activity at Associated Banc

In related news, EVP Patrick Edward Ahern sold 3,342 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the transaction, the executive vice president owned 41,472 shares of the company’s stock, valued at approximately $1,086,566.40. This represents a 7.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John A. Utz sold 13,000 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $27.24, for a total transaction of $354,120.00. Following the completion of the transaction, the executive vice president directly owned 111,228 shares of the company’s stock, valued at $3,029,850.72. This represents a 10.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,342 shares of company stock worth $494,360. 1.45% of the stock is owned by corporate insiders.

Associated Banc Price Performance

Shares of ASB opened at $24.37 on Friday. The stock has a market cap of $4.04 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The firm’s 50-day simple moving average is $25.89 and its two-hundred day simple moving average is $24.18.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $366.98 million for the quarter, compared to the consensus estimate of $362.78 million. Associated Banc had a net margin of 5.79% and a return on equity of 8.86%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.23 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a yield of 3.8%. Associated Banc’s dividend payout ratio (DPR) is presently 119.48%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ASB. Barclays raised their price target on shares of Associated Banc from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Wednesday, October 8th. Piper Sandler raised their price target on shares of Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Associated Banc in a report on Wednesday, October 8th. Truist Financial increased their target price on Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 28th. Finally, Robert W. Baird lifted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Associated Banc currently has a consensus rating of “Hold” and an average price target of $28.11.

Associated Banc Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.