Aigen Investment Management LP Invests $510,000 in Associated Banc-Corp $ASB

Aigen Investment Management LP purchased a new position in Associated Banc-Corp (NYSE:ASB) in the 4th quarter, HoldingsChannel reports. The fund purchased 19,789 shares of the bank’s stock, valued at approximately $510,000.

Several other large investors have also recently modified their holdings of the stock. California State Teachers Retirement System raised its position in shares of Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after purchasing an additional 394 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after purchasing an additional 408 shares during the last quarter. US Bancorp DE raised its position in shares of Associated Banc by 0.5% in the 3rd quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock worth $2,074,000 after purchasing an additional 415 shares during the last quarter. LPL Financial LLC raised its position in shares of Associated Banc by 2.3% in the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock worth $491,000 after purchasing an additional 426 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Associated Banc by 2.0% in the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after purchasing an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

ASB has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial lifted their price target on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $33.00 in a report on Tuesday, April 7th. Finally, Wells Fargo & Company lifted their price objective on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the completion of the sale, the executive vice president directly owned 21,385 shares in the company, valued at $604,340.10. The trade was a 40.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the business’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 sale, the executive vice president owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This represents a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,299 shares of company stock valued at $801,760. 0.71% of the stock is owned by company insiders.

Associated Banc Price Performance

NYSE ASB opened at $29.22 on Tuesday. Associated Banc-Corp has a one year low of $22.48 and a one year high of $29.96. The stock has a 50-day moving average of $27.84 and a 200 day moving average of $26.97. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $387.21 million during the quarter, compared to the consensus estimate 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 company earned $0.59 EPS. On average, sell-side analysts forecast that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, June 1st. Associated Banc’s payout ratio is currently 33.33%.

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.