125,638 Shares in Associated Banc-Corp $ASB Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new position in Associated Banc-Corp (NYSE:ASB) in the 2nd quarter, Holdings Channel reports. The firm acquired 125,638 shares of the bank’s stock, valued at approximately $3,866,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Associated Banc in the 2nd quarter worth approximately $715,927,000. First Trust Advisors LP lifted its stake in shares of Associated Banc by 127.6% in the 1st quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after purchasing an additional 3,347,699 shares during the period. Norges Bank bought a new stake in shares of Associated Banc during the fourth quarter valued at approximately $54,660,000. Pzena Investment Management LLC bought a new position in Associated Banc in the second quarter worth $61,240,000. Finally, Goldman Sachs Group Inc. raised its holdings in Associated Banc by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after purchasing an additional 1,598,951 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

ASB has been the topic of a number of research reports. Barclays boosted their target price on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Truist Financial lifted their price target on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Raymond James Financial boosted their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $34.00 target price on shares of Associated Banc in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Associated Banc currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling at Associated Banc

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 shares were sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the completion of the sale, the executive vice president owned 56,091 shares of the company’s stock, valued at $1,797,155.64. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicole M. Kitowski sold 7,663 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total transaction of $236,863.33. Following the completion of the transaction, the executive vice president owned 45,327 shares of the company’s stock, valued at approximately $1,401,057.57. The trade was a 14.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 87,524 shares of company stock worth $2,746,671 in the last 90 days. Insiders own 0.71% of the company’s stock.

Associated Banc Trading Down 2.3%

Associated Banc stock opened at $29.90 on Wednesday. Associated Banc-Corp has a 12 month low of $23.86 and a 12 month high of $32.46. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76. The business’s fifty day simple moving average is $31.00 and its two-hundred day simple moving average is $28.57. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $454.54 million during the quarter, compared to the consensus estimate of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period last year, the company earned $0.65 earnings per share. As a group, equities analysts predict that Associated Banc-Corp will post 2.94 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is currently 33.57%.

Associated Banc 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.