Wellington Management Group LLP Has $58.70 Million Stock Position in Associated Banc-Corp $ASB

Wellington Management Group LLP increased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,907,826 shares of the bank’s stock after acquiring an additional 276,560 shares during the period. Wellington Management Group LLP’s holdings in Associated Banc were worth $58,704,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. IAG Wealth Partners LLC grew its stake in Associated Banc by 4,250.0% in the first 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 in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Associated Banc in the third quarter valued at $51,000. Finally, Global Retirement Partners LLC bought a new position in shares of Associated Banc in the fourth quarter valued at $56,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the transaction, the executive vice president owned 13,809 shares in the company, valued at $442,026.09. This trade represents a 54.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randall Erickson sold 43,561 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total value of $1,395,694.44. Following the completion of the transaction, the executive vice president owned 56,091 shares in the company, valued at $1,797,155.64. The trade was a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 87,524 shares of company stock valued at $2,746,671 over the last ninety days. 0.71% of the stock is owned by corporate insiders.

Associated Banc Stock Up 1.2%

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. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.03 and a beta of 0.76. The business’s fifty day moving average price is $31.00 and its two-hundred day moving average price is $28.61. Associated Banc-Corp has a fifty-two week low of $23.86 and a fifty-two week high of $32.46.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 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 business had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post 2.94 earnings per share for the current year.

Associated Banc Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ASB shares. Truist Financial upped their price target on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 target price on shares of Associated Banc in a report on Wednesday, August 26th. Wells Fargo & Company raised their target price on shares of Associated Banc from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Finally, Raymond James Financial lifted their target price on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. One research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

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.