Associated Banc-Corp (NYSE:ASB) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in Associated Banc-Corp (NYSE:ASB) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,526 shares of the bank’s stock after acquiring an additional 2,964 shares during the quarter. Federated Hermes Inc.’s holdings in Associated Banc were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ASB. Commonwealth Equity Services LLC boosted its stake in Associated Banc by 10.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 35,226 shares of the bank’s stock worth $603,000 after purchasing an additional 3,451 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Associated Banc by 15.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,284 shares of the bank’s stock valued at $518,000 after buying an additional 3,947 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Associated Banc by 14.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,227 shares of the bank’s stock valued at $1,270,000 after acquiring an additional 9,363 shares during the period. Advisor Partners II LLC raised its stake in Associated Banc by 97.2% in the 3rd quarter. Advisor Partners II LLC now owns 20,568 shares of the bank’s stock worth $352,000 after acquiring an additional 10,140 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Associated Banc by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,744,918 shares of the bank’s stock worth $46,966,000 after acquiring an additional 21,981 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Trading Up 0.4 %

Shares of Associated Banc stock opened at $21.97 on Friday. The firm has a 50-day simple moving average of $20.89 and a two-hundred day simple moving average of $19.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. Associated Banc-Corp has a fifty-two week low of $14.47 and a fifty-two week high of $22.32. The company has a market cap of $3.31 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.28 and a beta of 0.99.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Tuesday, April 30th. 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 8.31% and a net margin of 6.86%. The company had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $325.00 million. During the same quarter in the prior year, the firm posted $0.66 EPS. Associated Banc’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts predict that Associated Banc-Corp will post 2.11 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.01%. Associated Banc’s dividend payout ratio (DPR) is 88.89%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ASB shares. Piper Sandler raised their price objective on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th. Barclays boosted their target price on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Raymond James increased their price target on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.13.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Nicole M. Kitowski sold 5,019 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares in the company, valued at $806,591.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nicole M. Kitowski sold 5,019 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the sale, the executive vice president now owns 37,993 shares of the company’s stock, valued at $806,591.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,729 shares of company stock valued at $561,450. 1.45% of the stock is owned by company insiders.

Associated Banc Company 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.