Fox Run Management L.L.C. Has $1.20 Million Holdings in Associated Banc-Corp $ASB

Fox Run Management L.L.C. grew its stake in Associated Banc-Corp (NYSE:ASB) by 376.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,156 shares of the bank’s stock after acquiring an additional 38,841 shares during the period. Fox Run Management L.L.C.’s holdings in Associated Banc were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ASB. Goldman Sachs Group Inc. increased its holdings in shares of Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after purchasing an additional 1,598,951 shares in the last quarter. AQR Capital Management LLC boosted its position in Associated Banc by 200.3% in the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock valued at $42,853,000 after buying an additional 1,287,458 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Associated Banc in the 1st quarter valued at $23,510,000. Invesco Ltd. raised its position in shares of Associated Banc by 83.2% during the first quarter. Invesco Ltd. now owns 1,308,946 shares of the bank’s stock worth $29,491,000 after acquiring an additional 594,361 shares during the last quarter. Finally, Heartland Advisors Inc. raised its position in shares of Associated Banc by 92.4% during the first quarter. Heartland Advisors Inc. now owns 769,546 shares of the bank’s stock worth $17,338,000 after acquiring an additional 369,546 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Up 1.2%

Associated Banc stock opened at $25.56 on Friday. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 0.98 and a beta of 0.84. The company’s 50 day simple moving average is $25.73 and its 200 day simple moving average is $24.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.90. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.66 by $0.07. The firm had revenue of $386.49 million during the quarter, compared to the consensus estimate of $377.94 million. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. During the same quarter in the prior year, the firm earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Associated Banc’s previous quarterly dividend of $0.23. Associated Banc’s dividend payout ratio (DPR) is 102.13%.

Analyst Upgrades and Downgrades

ASB has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Truist Financial raised their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 28th. Royal Bank Of Canada lifted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Piper Sandler boosted their price target on shares of Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Barclays raised their price objective on shares of Associated Banc from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.44.

Insider Buying and Selling

In other Associated Banc news, EVP Patrick Edward Ahern sold 3,342 shares of Associated Banc stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $26.20, for a total transaction of $87,560.40. Following the transaction, the executive vice president directly owned 41,472 shares in the company, valued at approximately $1,086,566.40. The trade was a 7.46% 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 Matthew R. Braeger sold 2,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the sale, the executive vice president owned 13,346 shares of the company’s stock, valued at $351,533.64. This trade represents a 13.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,342 shares of company stock valued at $494,360. 1.45% of the stock is owned by company insiders.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.