Deutsche Bank AG Buys New Holdings in Associated Banc-Corp $ASB

Deutsche Bank AG bought a new position in Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 154,110 shares of the bank’s stock, valued at approximately $4,742,000.

A number of other institutional investors have also recently bought and sold shares of the business. IAG Wealth Partners LLC raised its stake in shares of Associated Banc by 4,250.0% in the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after buying an additional 1,190 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Associated Banc during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Associated Banc during the 3rd quarter valued at about $51,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Associated Banc during the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Down 0.2%

ASB opened at $30.85 on Wednesday. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day simple moving average is $30.87 and its 200-day simple moving average is $28.51. Associated Banc-Corp has a twelve month low of $23.86 and a twelve month high of $32.46.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $454.54 million during the quarter, compared to the consensus estimate of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same period last year, the firm posted $0.65 EPS. Equities research analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays raised their price target on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Truist Financial upped their price objective on Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their target price on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Insider Activity at Associated Banc

In other news, EVP Nicole M. Kitowski sold 7,663 shares of Associated Banc stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total value of $236,863.33. Following the completion of the transaction, the executive vice president owned 45,327 shares in the company, valued at approximately $1,401,057.57. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Derek S. Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the completion of the transaction, the executive vice president directly owned 61,662 shares in the company, valued at $1,895,489.88. The trade was a 13.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 87,524 shares of company stock valued at $2,746,671. 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.