Trust Point Inc. Makes New $820,000 Investment in Associated Banc-Corp $ASB

Trust Point Inc. purchased a new position in shares of Associated Banc-Corp (NYSE:ASB) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 31,898 shares of the bank’s stock, valued at approximately $820,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hantz Financial Services Inc. grew its position in Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Associated Banc in the 2nd quarter valued at $34,000. Quarry LP increased its position in shares of Associated Banc by 77.7% in the 1st quarter. Quarry LP now owns 1,907 shares of the bank’s stock valued at $43,000 after acquiring an additional 834 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in Associated Banc in the 2nd quarter worth $49,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ASB shares. Barclays dropped their price target on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. UBS Group reaffirmed a “buy” rating and set a $28.00 target price on shares of Associated Banc in a report on Tuesday, December 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $30.00 price target (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Wall Street Zen raised shares of Associated Banc from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Associated Banc in a report on Tuesday, December 2nd. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Associated Banc currently has a consensus rating of “Hold” and an average target price of $28.20.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total transaction of $56,385.35. Following the sale, the executive vice president directly owned 109,842 shares in the company, valued at $2,900,927.22. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Edward Ahern sold 30,489 shares of Associated Banc stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the transaction, the executive vice president owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This represents a 55.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,951 shares of company stock valued at $925,756 in the last ninety days. 1.45% of the stock is owned by corporate insiders.

Associated Banc Stock Down 0.6%

Shares of ASB stock opened at $26.44 on Friday. The stock has a 50 day moving average of $25.63 and a 200 day moving average of $25.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market cap of $4.39 billion, a P/E ratio of 28.12, a P/E/G ratio of 0.78 and a beta of 0.81. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $27.58.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $390.71 million for the quarter, compared to analyst estimates of $377.94 million. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, sell-side analysts expect that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.24 per share. This is a boost from Associated Banc’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, December 1st. Associated Banc’s dividend payout ratio (DPR) is 102.13%.

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.