Wolverine Asset Management LLC Has $281,000 Stock Holdings in Associated Banc-Corp (NYSE:ASB)

Wolverine Asset Management LLC increased its position in Associated Banc-Corp (NYSE:ASB) by 13,055.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,155 shares of the bank’s stock after purchasing an additional 13,055 shares during the quarter. Wolverine Asset Management LLC’s holdings in Associated Banc were worth $281,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Associated Banc in the 4th quarter valued at about $84,000. New York State Common Retirement Fund grew its stake in shares of Associated Banc by 30.0% in the 4th quarter. New York State Common Retirement Fund now owns 80,363 shares of the bank’s stock valued at $1,719,000 after buying an additional 18,527 shares during the period. Foundry Partners LLC grew its stake in shares of Associated Banc by 1.7% in the 4th quarter. Foundry Partners LLC now owns 302,057 shares of the bank’s stock valued at $6,461,000 after buying an additional 5,166 shares during the period. Federated Hermes Inc. grew its stake in shares of Associated Banc by 13.7% in the 4th quarter. Federated Hermes Inc. now owns 24,526 shares of the bank’s stock valued at $525,000 after buying an additional 2,964 shares during the period. Finally, KLCM Advisors Inc. grew its stake in shares of Associated Banc by 1.4% in the 4th quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank’s stock valued at $964,000 after buying an additional 611 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Price Performance

Shares of NYSE ASB opened at $21.57 on Friday. Associated Banc-Corp has a twelve month low of $14.47 and a twelve month high of $22.16. The stock’s 50 day moving average price is $20.80 and its 200-day moving average price is $19.78. The company has a market capitalization of $3.25 billion, a PE ratio of 21.79, a PEG ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 25th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a return on equity of 8.33% and a net margin of 6.86%. The firm had revenue of $322.84 million for the quarter, compared to the consensus estimate of $325.00 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.22 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.08%. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Insider Buying and Selling

In related news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the sale, the director now owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the sale, the director now owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $297,012.00. Following the completion of the sale, the executive vice president now directly owns 89,880 shares in the company, valued at approximately $1,905,456. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,710 shares of company stock valued at $454,897. 1.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler raised their target price on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. Wells Fargo & Company lifted their price target on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Stephens reiterated an “equal weight” rating and set a $23.00 price target on shares of Associated Banc in a research note on Friday. Finally, Raymond James lifted their price target on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Associated Banc has an average rating of “Hold” and an average price target of $23.13.

Associated Banc Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.