Vanguard Personalized Indexing Management LLC Invests $499,000 in Associated Banc-Corp (NYSE:ASB)

Vanguard Personalized Indexing Management LLC acquired a new position in Associated Banc-Corp (NYSE:ASB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,338 shares of the bank’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in Associated Banc by 4.4% during the third quarter. Teacher Retirement System of Texas now owns 43,340 shares of the bank’s stock worth $742,000 after acquiring an additional 1,817 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Associated Banc by 15.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 32,291 shares of the bank’s stock worth $552,000 after acquiring an additional 4,244 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Associated Banc by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 665,820 shares of the bank’s stock worth $11,392,000 after purchasing an additional 31,875 shares during the period. NBC Securities Inc. bought a new position in Associated Banc during the 3rd quarter valued at about $95,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Associated Banc in the 3rd quarter worth about $6,404,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Trading Up 1.2 %

Shares of ASB stock opened at $21.23 on Friday. Associated Banc-Corp has a twelve month low of $14.56 and a twelve month high of $22.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $21.26 and its two-hundred day moving average is $20.56. The company has a market capitalization of $3.20 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. Equities analysts forecast that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.88 annualized dividend and a yield of 4.15%. Associated Banc’s payout ratio is currently 88.89%.

Insider Activity

In related news, EVP John A. Utz sold 14,010 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares in the company, valued at approximately $1,905,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicole M. Kitowski sold 5,019 shares of Associated Banc 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 owns 37,993 shares in the company, valued at approximately $806,591.39. The disclosure for this sale can be found here. Insiders sold a total of 26,529 shares of company stock worth $564,115 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ASB has been the topic of several recent analyst reports. Raymond James raised their price target on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Barclays increased their price target on Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Piper Sandler increased their target price on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Stephens reissued an “equal weight” rating and issued a $23.00 price objective on shares of Associated Banc in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.13.

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.