Sei Investments Co. Boosts Holdings in Associated Banc-Corp $ASB

Sei Investments Co. raised its position in Associated Banc-Corp (NYSE:ASB) by 134.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 433,405 shares of the bank’s stock after buying an additional 248,265 shares during the quarter. Sei Investments Co. owned about 0.26% of Associated Banc worth $11,208,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of Associated Banc by 0.3% in the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after acquiring an additional 394 shares in the last quarter. LPL Financial LLC raised its holdings in Associated Banc by 2.3% during the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock worth $491,000 after purchasing an additional 426 shares in the last quarter. Tidal Investments LLC raised its holdings in Associated Banc by 2.0% during the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after purchasing an additional 549 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Associated Banc by 1.8% in the fourth quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after purchasing an additional 619 shares during the period. Finally, State of Michigan Retirement System lifted its position in Associated Banc by 1.8% in the first quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock valued at $1,018,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Dennis Deloye sold 14,299 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total value of $404,089.74. Following the sale, the executive vice president owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. This represents a 40.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the company’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 value of $144,100.00. Following the completion of the sale, the executive vice president directly owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 41,962 shares of company stock valued at $1,233,303. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ASB shares. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods raised their price target on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Barclays lifted their price target on Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Robert W. Baird upped their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Truist Financial raised their target price on Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Associated Banc Stock Performance

ASB opened at $30.88 on Friday. Associated Banc-Corp has a 1-year low of $23.63 and a 1-year high of $31.83. The stock has a market cap of $5.82 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.05 and a beta of 0.76. The stock’s 50 day simple moving average is $29.75 and its 200 day simple moving average is $27.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $450.44 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 period in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts anticipate that Associated Banc-Corp will post 2.9 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s dividend payout ratio is currently 33.57%.

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.