Versor Investments LP Takes Position in Associated Banc-Corp $ASB

Versor Investments LP acquired a new position in shares of Associated Banc-Corp (NYSE:ASB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,300 shares of the bank’s stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASB. Wells Fargo & Company MN grew its position in Associated Banc by 21.9% during the 4th quarter. Wells Fargo & Company MN now owns 115,710 shares of the bank’s stock worth $2,765,000 after acquiring an additional 20,805 shares during the last quarter. Mariner LLC grew its position in Associated Banc by 3.3% during the 4th quarter. Mariner LLC now owns 17,882 shares of the bank’s stock worth $427,000 after acquiring an additional 566 shares during the last quarter. XTX Topco Ltd bought a new stake in Associated Banc during the 4th quarter worth $232,000. NewEdge Advisors LLC grew its position in Associated Banc by 13.1% during the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank’s stock worth $84,000 after acquiring an additional 408 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Associated Banc by 6.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 132,025 shares of the bank’s stock worth $3,153,000 after acquiring an additional 7,873 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stephens reduced their price objective on Associated Banc from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Robert W. Baird boosted their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Truist Financial upped their price target on Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 28th. Piper Sandler upped their price target on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $27.00 price objective on shares of Associated Banc in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.78.

Associated Banc Price Performance

Shares of NYSE ASB opened at $25.3050 on Thursday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $28.18. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $24.75 and a two-hundred day simple moving average of $23.49.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $366.98 million during the quarter, compared to analysts’ expectations of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same period in the previous year, the business earned $0.52 earnings per share. Analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.92 annualized dividend and a yield of 3.6%. Associated Banc’s dividend payout ratio (DPR) is currently 119.48%.

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.