LSV Asset Management Sells 192,780 Shares of Associated Banc-Corp $ASB

LSV Asset Management decreased its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,624,263 shares of the bank’s stock after selling 192,780 shares during the quarter. LSV Asset Management’s holdings in Associated Banc were worth $93,180,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after buying an additional 394 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after buying an additional 408 shares during the last quarter. US Bancorp DE grew its holdings in shares of Associated Banc by 0.6% in the 2nd quarter. US Bancorp DE now owns 80,262 shares of the bank’s stock valued at $1,958,000 after acquiring an additional 450 shares in the last quarter. Tidal Investments LLC increased its position in shares of Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after acquiring an additional 549 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Associated Banc by 1.5% during the third quarter. Arizona State Retirement System now owns 49,065 shares of the bank’s stock worth $1,261,000 after acquiring an additional 724 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a research note on Sunday, February 1st. Barclays cut their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Truist Financial raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.20.

Insider Buying and Selling

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the sale, the executive vice president directly owned 109,842 shares in the company, valued at $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Williams sold 2,325 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total value of $65,216.25. Following the sale, the director owned 70,959 shares of the company’s stock, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 53,007 shares of company stock valued at $1,418,613. Company insiders own 1.45% of the company’s stock.

Associated Banc Stock Down 2.6%

ASB stock opened at $27.54 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $4.57 billion, a PE ratio of 9.94, a PEG ratio of 1.30 and a beta of 0.81. Associated Banc-Corp has a 1-year low of $18.32 and a 1-year high of $29.51. The business’s 50 day simple moving average is $26.90 and its 200 day simple moving average is $26.02.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The business had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. During the same quarter last year, the firm posted $0.72 EPS. As a group, research analysts anticipate that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, March 2nd. Associated Banc’s dividend payout ratio (DPR) is currently 34.66%.

Associated Banc announced that its board has authorized a stock buyback program on Tuesday, January 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.