Associated Banc-Corp $ASB Stake Lifted by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Associated Banc-Corp (NYSE:ASB) by 69.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 767,671 shares of the bank’s stock after buying an additional 315,064 shares during the period. SG Americas Securities LLC’s holdings in Associated Banc were worth $19,852,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Associated Banc during the fourth quarter valued at $54,660,000. First Trust Advisors LP increased its holdings in shares of Associated Banc by 679.4% in the 3rd quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock worth $57,171,000 after acquiring an additional 1,938,393 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the period. Balyasny Asset Management L.P. lifted its position in Associated Banc by 4,883.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock valued at $35,625,000 after purchasing an additional 1,357,862 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Associated Banc in the 4th quarter valued at about $27,819,000. 82.98% of the stock is currently owned by institutional investors.

Insider Activity at Associated Banc

In other news, EVP Matthew R. Braeger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total value of $140,850.00. Following the completion of the transaction, the executive vice president directly owned 11,777 shares in the company, valued at $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John A. Utz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president owned 118,156 shares in the company, valued at $3,405,255.92. This represents a 4.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 28,299 shares of company stock valued at $801,760. Insiders own 0.71% of the company’s stock.

Associated Banc Price Performance

Shares of NYSE ASB opened at $30.88 on Friday. The stock has a market cap of $5.82 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.76 and a beta of 0.77. The firm’s 50-day simple moving average is $28.26 and its 200 day simple moving average is $27.18. Associated Banc-Corp has a fifty-two week low of $23.63 and a fifty-two week high of $31.10. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts expect that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 1st. Associated Banc’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several research analysts have commented on ASB shares. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research cut Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Piper Sandler boosted their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Truist Financial increased their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company raised their target price on Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, March 30th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Associated Banc has a consensus rating of “Moderate Buy” and a consensus price target 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.