24,783 Shares in Associated Banc-Corp $ASB Acquired by Commerce Bank

Commerce Bank bought a new stake in Associated Banc-Corp (NYSE:ASB) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 24,783 shares of the bank’s stock, valued at approximately $763,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC increased its position in shares of Associated Banc by 4,250.0% in the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Associated Banc during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Associated Banc during the third quarter worth $51,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Associated Banc during the fourth quarter worth $56,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Trading Up 0.2%

NYSE ASB opened at $30.88 on Thursday. The firm’s fifty day moving average price is $30.91 and its 200 day moving average price is $28.52. Associated Banc-Corp has a 12 month low of $23.86 and a 12 month high of $32.46. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 1.05 and a beta of 0.77.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same period in the previous year, the company earned $0.65 earnings per share. On average, sell-side analysts expect that Associated Banc-Corp will post 2.92 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Associated Banc’s payout ratio is 33.57%.

Wall Street Analyst Weigh In

Several research firms recently commented on ASB. Piper Sandler reissued a “neutral” rating and issued a $34.00 target price on shares of Associated Banc in a report on Wednesday. Wells Fargo & Company upped their price objective on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Raymond James Financial upped their price objective on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Finally, Barclays raised their target price on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Insiders Place Their Bets

In related news, EVP Randall J. Erickson sold 43,561 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the transaction, the executive vice president owned 56,091 shares in the company, valued at $1,797,155.64. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory Warsek sold 16,300 shares of Associated Banc stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total value of $521,763.00. Following the transaction, the executive vice president directly owned 13,809 shares in the company, valued at approximately $442,026.09. This trade represents a 54.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 87,524 shares of company stock worth $2,746,671. Corporate insiders own 0.71% of the company’s stock.

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.