Interval Partners LP Acquires 264,025 Shares of Associated Banc-Corp $ASB

Interval Partners LP increased its holdings in Associated Banc-Corp (NYSE:ASB) by 50.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 791,522 shares of the bank’s stock after buying an additional 264,025 shares during the period. Interval Partners LP owned about 0.48% of Associated Banc worth $20,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Associated Banc by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after buying an additional 5,531 shares in the last quarter. Millennium Management LLC raised its stake in Associated Banc by 90.4% in the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after buying an additional 136,648 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Associated Banc by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after buying an additional 60,758 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in Associated Banc in the second quarter worth approximately $328,000. Institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

ASB has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $30.00 to $29.00 in a research note on Friday, March 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Barclays raised Associated Banc from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $33.00 in a research report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.30.

Associated Banc Stock Performance

Shares of ASB stock opened at $28.88 on Thursday. The business’s fifty day simple moving average is $27.96 and its 200-day simple moving average is $27.01. The company has a market cap of $5.45 billion, a PE ratio of 10.03, a PEG ratio of 1.70 and a beta of 0.77. 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 12-month low of $22.48 and a 12-month high of $29.96.

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, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period in the prior year, the firm posted $0.59 earnings per share. Analysts expect that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.3%. Associated Banc’s dividend payout ratio is presently 33.33%.

Insiders Place Their Bets

In other news, EVP Matthew R. Braeger sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total transaction of $140,850.00. Following the sale, the executive vice president directly owned 11,777 shares of the company’s stock, valued at $331,758.09. The trade was a 29.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total transaction of $112,720.00. Following the sale, the director directly owned 67,420 shares in the company, valued at $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,299 shares of company stock valued at $801,760. Company insiders own 0.71% of the company’s stock.

Associated Banc 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.