Hsbc Holdings PLC Buys New Shares in Associated Banc-Corp $ASB

Hsbc Holdings PLC purchased a new stake in shares of Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 93,955 shares of the bank’s stock, valued at approximately $2,892,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Associated Banc by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after buying an additional 5,531 shares during the period. Millennium Management LLC grew its stake in shares of Associated Banc by 90.4% during the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after acquiring an additional 136,648 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Associated Banc by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after acquiring an additional 60,758 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Associated Banc in the 2nd quarter worth approximately $328,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ASB shares. Barclays upped their price target on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Piper Sandler reaffirmed 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 target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, Raymond James Financial raised their price target on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Associated Banc Trading Up 0.5%

ASB stock opened at $30.94 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. Associated Banc-Corp has a 1-year low of $23.86 and a 1-year high of $32.46. The business has a 50 day simple moving average of $30.97 and a two-hundred day simple moving average of $28.55. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.04 and a beta of 0.77.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $438.01 million. During the same quarter last year, the business posted $0.65 earnings per share. Research analysts anticipate that Associated Banc-Corp will post 2.94 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

Insider Buying and Selling

In other Associated Banc news, EVP Nicole M. Kitowski sold 7,663 shares of Associated Banc stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total value of $236,863.33. Following the sale, the executive vice president directly owned 45,327 shares in the company, valued at approximately $1,401,057.57. The trade was a 14.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the sale, the executive vice president owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 87,524 shares of company stock worth $2,746,671 in the last 90 days. 0.71% of the stock is owned by company 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.