Leeward Investments LLC MA Trims Stock Holdings in Associated Banc-Corp $ASB

Leeward Investments LLC MA decreased its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 724,583 shares of the bank’s stock after selling 19,948 shares during the quarter. Leeward Investments LLC MA owned about 0.44% of Associated Banc worth $18,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ASB. JPMorgan Chase & Co. raised its stake in shares of Associated Banc by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank’s stock valued at $25,312,000 after purchasing an additional 194,307 shares during the period. Associated Banc Corp boosted its stake in Associated Banc by 7.5% in the 4th quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock worth $67,783,000 after purchasing an additional 182,623 shares during the period. First Trust Advisors LP boosted its stake in Associated Banc by 679.4% in the 3rd quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock worth $57,171,000 after purchasing an additional 1,938,393 shares during the period. Vanguard Group Inc. grew its holdings in Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after buying an additional 545,185 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Associated Banc by 32.5% during the 3rd quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock valued at $67,606,000 after buying an additional 645,676 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ASB shares. Piper Sandler increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Zacks Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Barclays upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, April 7th. Finally, Truist Financial raised their price target on shares of Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

Associated Banc Stock Performance

NYSE:ASB opened at $29.93 on Wednesday. The business’s 50-day moving average price is $28.14 and its two-hundred day moving average price is $27.12. Associated Banc-Corp has a twelve month low of $23.63 and a twelve month high of $29.96. The stock has a market cap of $5.65 billion, a P/E ratio of 10.39, a PEG ratio of 1.70 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $387.21 million during the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter last year, the company posted $0.59 EPS. As a group, equities analysts predict that Associated Banc-Corp will post 2.92 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.2%. Associated Banc’s payout ratio is presently 33.33%.

Insider Activity at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the transaction, the executive vice president owned 118,156 shares of the company’s stock, valued at $3,405,255.92. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dennis Deloye sold 14,299 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the completion of the transaction, the executive vice president directly owned 21,385 shares in the company, valued at $604,340.10. The trade was a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,299 shares of company stock worth $801,760 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

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.