LSV Asset Management Increases Holdings in Associated Banc-Corp (NYSE:ASB)

LSV Asset Management increased its stake in Associated Banc-Corp (NYSE:ASB) by 21.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,826,597 shares of the bank’s stock after buying an additional 490,321 shares during the quarter. LSV Asset Management owned 1.87% of Associated Banc worth $60,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASB. First Command Advisory Services Inc. bought a new position in Associated Banc in the 3rd quarter worth approximately $29,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Associated Banc during the 3rd quarter valued at $82,000. GAMMA Investing LLC bought a new stake in shares of Associated Banc during the 4th quarter valued at $84,000. BKM Wealth Management LLC bought a new position in Associated Banc in the 4th quarter worth about $92,000. Finally, NBC Securities Inc. purchased a new stake in shares of Associated Banc in the 3rd quarter valued at about $95,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Stock Up 0.5 %

NYSE:ASB traded up $0.10 during trading hours on Friday, reaching $21.97. 765,271 shares of the company traded hands, compared to its average volume of 1,380,008. The business’s 50-day moving average price is $20.89 and its two-hundred day moving average price is $19.99. The stock has a market capitalization of $3.31 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.30 and a beta of 0.99. Associated Banc-Corp has a 1 year low of $14.47 and a 1 year high of $22.32. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. Associated Banc’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. Analysts predict that Associated Banc-Corp will post 2.11 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.01%. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

Insider Buying and Selling

In other news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total transaction of $52,785.00. Following the transaction, the director now owns 62,876 shares in the company, valued at approximately $1,229,225.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares of the company’s stock, valued at $1,053,648.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Williams sold 2,700 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the sale, the director now directly owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The disclosure for this sale can be found here. Insiders sold 26,729 shares of company stock valued at $561,450 over the last 90 days. Company insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and issued a $23.00 price objective on shares of Associated Banc in a report on Friday, April 26th. Wells Fargo & Company increased their price objective on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, Barclays increased their price objective on Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.13.

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. 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.