North Star Asset Management Inc. Invests $3.36 Million in Associated Banc-Corp $ASB

North Star Asset Management Inc. acquired a new position in Associated Banc-Corp (NYSE:ASB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 109,116 shares of the bank’s stock, valued at approximately $3,357,000.

Several other large investors have also added to or reduced their stakes in ASB. BlackRock Inc. acquired a new position in shares of Associated Banc during the 2nd quarter worth about $715,927,000. Vanguard Group Inc. lifted its position in shares of Associated Banc by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after buying an additional 545,185 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Associated Banc by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank’s stock valued at $253,709,000 after purchasing an additional 170,080 shares during the last quarter. State Street Corp boosted its holdings in shares of Associated Banc by 1.7% during the 4th quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock worth $224,404,000 after buying an additional 147,372 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Associated Banc by 127.6% during the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock worth $154,416,000 after acquiring an additional 3,347,699 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insider Buying and Selling

In other news, EVP Derek S. Meyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total transaction of $307,400.00. Following the completion of the sale, the executive vice president owned 61,662 shares of the company’s stock, valued at $1,895,489.88. This trade represents a 13.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the sale, the executive vice president owned 13,809 shares of the company’s stock, valued at $442,026.09. The trade was a 54.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 87,524 shares of company stock worth $2,746,671 over the last three months. Insiders own 0.71% of the company’s stock.

Associated Banc Stock Down 0.1%

Shares of NYSE:ASB opened at $30.82 on Friday. Associated Banc-Corp has a 12-month low of $23.86 and a 12-month high of $32.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $5.82 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.05 and a beta of 0.77. The business has a fifty day simple moving average of $30.94 and a 200 day simple moving average of $28.53.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $454.54 million for 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 prior year, the business posted $0.65 earnings per share. Analysts predict that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be 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 is Tuesday, September 1st. Associated Banc’s payout ratio is currently 33.57%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ASB. Raymond James Financial increased their target price on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Barclays boosted their price objective 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. Truist Financial upped their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Finally, Piper Sandler restated a “neutral” rating and issued a $34.00 price target on shares of Associated Banc in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

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.