Centiva Capital LP Buys Shares of 12,902 Associated Banc-Corp (NYSE:ASB)

Centiva Capital LP purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 12,902 shares of the bank’s stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ASB. Vanguard Personalized Indexing Management LLC increased its position in shares of Associated Banc by 4.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after buying an additional 525 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Associated Banc by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock valued at $419,000 after buying an additional 525 shares during the period. Arizona State Retirement System grew its position in Associated Banc by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 42,068 shares of the bank’s stock worth $890,000 after acquiring an additional 586 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Associated Banc by 2.4% in the second quarter. Truist Financial Corp now owns 27,082 shares of the bank’s stock worth $573,000 after purchasing an additional 636 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Associated Banc by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 656 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the sale, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $28.00 price target on shares of Associated Banc in a report on Thursday, December 5th. Barclays boosted their target price on Associated Banc from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company raised their price target on Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised their target price on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.89.

Associated Banc Stock Up 1.0 %

NYSE:ASB opened at $26.27 on Thursday. Associated Banc-Corp has a 1-year low of $19.21 and a 1-year high of $28.18. The company has a market capitalization of $3.97 billion, a PE ratio of 21.89, a P/E/G ratio of 1.88 and a beta of 0.93. The firm’s 50-day moving average price is $24.68 and its 200-day moving average price is $22.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. During the same quarter last year, the company earned $0.53 EPS. On average, equities analysts predict that Associated Banc-Corp will post 2.13 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.23 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.50%. Associated Banc’s payout ratio is presently 76.67%.

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.