MQS Management LLC Invests $563,000 in Associated Banc-Corp $ASB

MQS Management LLC purchased a new stake in Associated Banc-Corp (NYSE:ASB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,872 shares of the bank’s stock, valued at approximately $563,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ASB. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in Associated Banc in the third quarter valued at approximately $51,000. Hoese & Co LLP acquired a new position in Associated Banc in the fourth quarter valued at approximately $52,000. Finally, Bessemer Group Inc. boosted its holdings in Associated Banc by 55.5% in the third quarter. Bessemer Group Inc. now owns 2,074 shares of the bank’s stock valued at $54,000 after purchasing an additional 740 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Price Performance

Shares of NYSE ASB opened at $28.02 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc-Corp has a twelve month low of $22.40 and a twelve month high of $29.51. The stock has a 50 day moving average of $26.84 and a two-hundred day moving average of $26.64. The stock has a market cap of $4.65 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.62 and a beta of 0.79.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The company had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $384.20 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, research analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 27th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.24 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. Associated Banc’s payout ratio is currently 33.33%.

Insiders Place Their Bets

In other Associated Banc news, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the completion of the sale, the director owned 67,420 shares in the company, valued at approximately $1,899,895.60. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

ASB has been the subject of a number of research analyst reports. Piper Sandler upped their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Associated Banc in a report on Monday, April 27th. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stephens raised Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $30.00 to $29.00 in a report on Friday, March 27th. Finally, Royal Bank Of Canada upped their price target on Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.30.

Associated Banc Company Profile

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.