Y Intercept Hong Kong Ltd Invests $1.29 Million in Associated Banc-Corp $ASB

Y Intercept Hong Kong Ltd bought a new stake in shares of Associated Banc-Corp (NYSE:ASB) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 50,119 shares of the bank’s stock, valued at approximately $1,289,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Associated Banc by 8.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 410,289 shares of the bank’s stock worth $10,549,000 after purchasing an additional 31,409 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Associated Banc during the 3rd quarter valued at $69,000. Wealth Enhancement Advisory Services LLC increased its stake in Associated Banc by 5.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 56,656 shares of the bank’s stock worth $1,503,000 after buying an additional 2,675 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Associated Banc by 47.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,379 shares of the bank’s stock worth $524,000 after buying an additional 6,564 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its position in Associated Banc by 34.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 11,581 shares of the bank’s stock valued at $298,000 after buying an additional 2,973 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Stock Performance

Shares of ASB opened at $27.26 on Friday. The firm has a fifty day moving average of $26.45 and a 200-day moving average of $25.84. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. Associated Banc-Corp has a 1 year low of $18.32 and a 1 year high of $28.02.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The firm had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. During the same period last year, the firm posted $0.72 EPS. As a group, equities analysts anticipate that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, March 2nd. Associated Banc’s dividend payout ratio is 34.66%.

Associated Banc announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. 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 research note on Monday, October 27th. Piper Sandler increased their target price on Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. UBS Group reaffirmed a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a report on Tuesday, December 2nd. Barclays decreased their price objective on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Finally, Truist Financial lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.20.

Insider Activity at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of Associated Banc stock in a transaction on 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 owned 109,842 shares of the company’s stock, valued at $2,900,927.22. The trade was a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick Edward Ahern sold 30,489 shares of the stock in a transaction on Thursday, December 4th. The stock was 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 directly owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. The trade was a 55.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 35,951 shares of company stock worth $925,756. 1.45% of the stock is owned by insiders.

About Associated Banc

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.