NFJ Investment Group LLC Acquires New Stake in Associated Banc-Corp $ASB

NFJ Investment Group LLC bought a new position in shares of Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 97,855 shares of the bank’s stock, valued at approximately $3,011,000.

A number of other institutional investors have also added to or reduced their stakes in ASB. Sei Investments Co. raised its stake in Associated Banc by 134.1% in the first quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock valued at $11,208,000 after purchasing an additional 248,265 shares in the last quarter. Y Intercept Hong Kong Ltd lifted 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 purchasing an additional 150,998 shares during the last quarter. Associated Banc Corp grew its stake in Associated Banc by 7.5% in the 4th quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock worth $67,783,000 after buying an additional 182,623 shares in the last quarter. Vanguard Group Inc. grew its stake in Associated Banc by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after buying an additional 545,185 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Associated Banc in the 2nd quarter worth $2,048,000. 82.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Nicole M. Kitowski sold 7,663 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the completion of the sale, the executive vice president owned 45,327 shares in the company, valued at approximately $1,401,057.57. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dennis Deloye sold 14,299 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the sale, the executive vice president directly owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. This trade represents a 40.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,823 shares of company stock worth $3,150,761 over the last quarter. Company insiders own 0.71% of the company’s stock.

Associated Banc Stock Performance

Associated Banc stock opened at $30.71 on Friday. The firm has a fifty day simple moving average of $30.78 and a two-hundred day simple moving average of $28.45. 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 twelve month low of $23.86 and a twelve month high of $32.46. The company has a market capitalization of $5.80 billion, a PE ratio of 10.74, a P/E/G ratio of 1.04 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 firm 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 last year, the firm earned $0.65 earnings per share. Research analysts expect that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Robert W. Baird upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company lifted their price target on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Associated Banc currently has an average rating of “Moderate Buy” and a consensus target price of $31.60.

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.