SVA Plumb Wealth Management LLC boosted its stake in shares of Associated Banc Corp (NYSE:ASB) by 3.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,285 shares of the bank’s stock after purchasing an additional 2,000 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Associated Banc were worth $1,244,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Texas Permanent School Fund grew its stake in Associated Banc by 2.9% in the first quarter. Texas Permanent School Fund now owns 111,584 shares of the bank’s stock valued at $2,382,000 after purchasing an additional 3,098 shares in the last quarter. Executive Wealth Management LLC bought a new position in shares of Associated Banc in the first quarter worth $25,000. Picton Mahoney Asset Management boosted its stake in Associated Banc by 127.6% during the first quarter. Picton Mahoney Asset Management now owns 67,600 shares of the bank’s stock valued at $1,444,000 after buying an additional 37,900 shares during the period. Menta Capital LLC bought a new stake in Associated Banc during the first quarter valued at $620,000. Finally, Keeley Teton Advisors LLC raised its position in Associated Banc by 7.8% during the first quarter. Keeley Teton Advisors LLC now owns 105,676 shares of the bank’s stock valued at $2,256,000 after purchasing an additional 7,613 shares in the last quarter. 75.59% of the stock is owned by hedge funds and other institutional investors.

In other Associated Banc news, CEO Philip B. Flynn sold 10,000 shares of Associated Banc stock in a transaction on Monday, May 6th. The shares were sold at an average price of $22.89, for a total value of $228,900.00. Following the completion of the transaction, the chief executive officer now owns 218,996 shares of the company’s stock, valued at $5,012,818.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David L. Stein sold 6,000 shares of Associated Banc stock in a transaction on Friday, March 8th. The shares were sold at an average price of $22.36, for a total transaction of $134,160.00. Following the completion of the transaction, the insider now directly owns 58,533 shares of the company’s stock, valued at approximately $1,308,797.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,441 shares of company stock worth $997,186. Corporate insiders own 2.69% of the company’s stock.

ASB has been the topic of several recent analyst reports. Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada decreased their price objective on shares of Associated Banc to $24.00 and set a “sector perform” rating for the company in a report on Friday, January 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $24.89.

Shares of NYSE ASB opened at $22.21 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market cap of $3.61 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12. Associated Banc Corp has a 12-month low of $18.53 and a 12-month high of $29.02.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 25th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Associated Banc had a net margin of 22.56% and a return on equity of 9.87%. The firm had revenue of $306.75 million for the quarter, compared to analysts’ expectations of $312.90 million. During the same period in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Associated Banc Corp will post 2.02 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, May 31st. Associated Banc’s dividend payout ratio (DPR) is presently 33.50%.

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Associated Banc Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

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