Ieq Capital LLC Invests $4.41 Million in Associated Banc-Corp $ASB

Ieq Capital LLC acquired a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 143,436 shares of the bank’s stock, valued at approximately $4,414,000. Ieq Capital LLC owned about 0.08% of Associated Banc as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASB. Sei Investments Co. boosted its stake in shares of Associated Banc by 134.1% in the 1st quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock worth $11,208,000 after buying an additional 248,265 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Associated Banc by 159.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock valued at $6,356,000 after acquiring an additional 150,998 shares during the last quarter. Associated Banc Corp increased its position in Associated Banc by 7.5% during the fourth quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock valued at $67,783,000 after acquiring an additional 182,623 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Associated Banc in the second quarter valued at about $2,048,000. Finally, BlackRock Inc. bought a new position in Associated Banc in the second quarter valued at about $715,927,000. Institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

ASB has been the subject of a number of recent research reports. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Raymond James Financial increased their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Wells Fargo & Company boosted their target price on shares of Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Barclays upped their target price on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.60.

Associated Banc Stock Up 0.2%

NYSE ASB opened at $30.92 on Tuesday. The stock’s 50-day moving average price is $30.84 and its 200-day moving average price is $28.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.46. The company has a market capitalization of $5.84 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.05 and a beta of 0.77.

Associated Banc (NYSE:ASB) last announced 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 the consensus estimate 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 company posted $0.65 EPS. On average, equities research analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Randall J. Erickson sold 43,561 shares of Associated Banc stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the transaction, the executive vice president owned 56,091 shares in the company, valued at approximately $1,797,155.64. The trade was a 43.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John A. Utz sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, 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 quarter, insiders sold 87,524 shares of company stock valued at $2,746,671. Insiders own 0.71% of the company’s stock.

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.