West Family Investments Inc. Buys New Shares in Associated Banc-Corp $ASB

West Family Investments Inc. purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,641 shares of the bank’s stock, valued at approximately $512,000.

Several other hedge funds also recently modified their holdings of ASB. Sei Investments Co. boosted its position in Associated Banc by 134.1% during the first quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock valued at $11,208,000 after purchasing an additional 248,265 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Associated Banc by 159.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock worth $6,356,000 after purchasing an additional 150,998 shares during the last quarter. Associated Banc Corp raised its stake in shares of Associated Banc by 7.5% during the 4th quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock worth $67,783,000 after purchasing an additional 182,623 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after purchasing an additional 545,185 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Associated Banc in the 2nd quarter valued at approximately $2,048,000. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In other news, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the sale, the executive vice president directly owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randall J. Erickson sold 43,561 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total value of $1,395,694.44. Following the sale, the executive vice president owned 56,091 shares of the company’s stock, valued at approximately $1,797,155.64. The trade was a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 101,823 shares of company stock valued at $3,150,761 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

Associated Banc Stock Down 2.7%

Shares of ASB opened at $30.82 on Thursday. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.46. The firm has a market cap of $5.82 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The firm’s 50-day simple moving average is $30.74 and its 200 day simple moving average is $28.43. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts forecast that Associated Banc-Corp will post 2.92 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s payout ratio is 33.57%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASB. Raymond James Financial boosted their target price on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Truist Financial lifted their price target on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Robert W. Baird boosted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.60.

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.