Associated Banc-Corp $ASB Position Lessened by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in Associated Banc-Corp (NYSE:ASB) by 33.4% during the 4th quarter, Holdings Channel reports. The fund owned 87,826 shares of the bank’s stock after selling 44,001 shares during the quarter. Intech Investment Management LLC’s holdings in Associated Banc were worth $2,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ASB. First Trust Advisors LP increased its position in Associated Banc by 679.4% in the 3rd quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock valued at $57,171,000 after acquiring an additional 1,938,393 shares during the period. Goldman Sachs Group Inc. increased its position in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares during the period. Balyasny Asset Management L.P. increased its position in Associated Banc by 4,883.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock valued at $35,625,000 after acquiring an additional 1,357,862 shares during the period. American Century Companies Inc. increased its position in Associated Banc by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock valued at $67,606,000 after acquiring an additional 645,676 shares during the period. Finally, Vanguard Group Inc. increased its position in Associated Banc by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after acquiring an additional 545,185 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ASB has been the topic of several analyst reports. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $33.00 in a research report on Tuesday, April 7th. Raymond James Financial restated an “outperform” rating and issued a $31.00 target price on shares of Associated Banc in a research report on Monday, April 27th. Wells Fargo & Company raised their target price on Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, March 30th. Finally, Keefe, Bruyette & Woods raised their target price on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.30.

Associated Banc Stock Down 2.5%

Shares of ASB stock opened at $26.91 on Thursday. Associated Banc-Corp has a 1 year low of $22.48 and a 1 year high of $29.51. The stock has a market cap of $4.46 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. The business’s fifty day moving average is $27.35 and its 200-day moving average is $26.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $384.20 million. During the same period last year, the firm earned $0.59 EPS. Equities analysts expect that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.6%. Associated Banc’s dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling at Associated Banc

In other news, EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the transaction, the executive vice president directly owned 21,385 shares in the company, valued at approximately $604,340.10. This trade represents a 40.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Williams sold 4,000 shares of Associated Banc stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total value of $112,720.00. Following the transaction, the director owned 67,420 shares in the company, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is currently owned by company insiders.

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.