Jackson Creek Investment Advisors LLC Makes New Investment in Associated Banc-Corp $ASB

Jackson Creek Investment Advisors LLC purchased a new position in Associated Banc-Corp (NYSE:ASB) in the 3rd quarter, HoldingsChannel reports. The fund purchased 68,817 shares of the bank’s stock, valued at approximately $1,769,000.

A number of other large investors have also modified their holdings of ASB. Hantz Financial Services Inc. raised its stake in shares of Associated Banc by 2,033.9% in the second quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares during the period. Bayforest Capital Ltd acquired a new stake in Associated Banc in the 2nd quarter valued at about $34,000. Quent Capital LLC purchased a new position in shares of Associated Banc in the 3rd quarter valued at about $34,000. Finally, First Horizon Corp acquired a new position in shares of Associated Banc during the third quarter worth about $39,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling at Associated Banc

In other news, EVP Patrick Edward Ahern sold 30,489 shares of the company’s 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 sale, the executive vice president directly owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This represents a 55.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John A. Utz sold 2,135 shares of the 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 owned 109,842 shares of the company’s stock, valued at $2,900,927.22. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 35,951 shares of company stock valued at $925,756. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ASB shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Sunday. Raymond James Financial reiterated an “outperform” rating and set a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Truist Financial raised their price target on Associated Banc from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, Barclays lowered their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.20.

Associated Banc Stock Up 1.9%

Associated Banc stock opened at $27.77 on Tuesday. The company has a market capitalization of $4.61 billion, a P/E ratio of 10.03, a PEG ratio of 1.25 and a beta of 0.80. 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 fifty-two week low of $18.32 and a fifty-two week high of $28.15. The stock has a 50-day simple moving average of $26.49 and a 200-day simple moving average of $25.86.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The company had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current year.

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

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, March 2nd. Associated Banc’s payout ratio is presently 34.66%.

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.