Associated Banc-Corp $ASB Stock Holdings Raised by Royal Bank of Canada

Royal Bank of Canada grew its stake in Associated Banc-Corp (NYSE:ASB) by 49.8% during the first quarter, HoldingsChannel.com reports. The firm owned 168,661 shares of the bank’s stock after purchasing an additional 56,083 shares during the period. Royal Bank of Canada’s holdings in Associated Banc were worth $4,362,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC lifted its holdings in Associated Banc by 90.4% during the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after buying an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 acquired a new position in shares of Associated Banc in the 2nd quarter worth approximately $328,000. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling

In other news, EVP Randall J. Erickson sold 43,561 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 56,091 shares of the company’s stock, valued at approximately $1,797,155.64. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John A. Utz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president owned 118,156 shares of the company’s stock, valued at $3,405,255.92. This represents a 4.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 101,823 shares of company stock valued at $3,150,761 in the last three months. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ASB shares. Piper Sandler upped their price target on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Truist Financial lifted their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Wells Fargo & Company boosted 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. Keefe, Bruyette & Woods increased their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Raymond James Financial raised their price target on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Associated Banc currently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

Associated Banc Stock Up 0.3%

NYSE:ASB opened at $32.22 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $30.46 and a 200-day moving average of $28.29. The firm has a market capitalization of $6.08 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.09 and a beta of 0.77. Associated Banc-Corp has a 52 week low of $23.86 and a 52 week high of $32.44.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. During the same quarter last year, the business posted $0.65 EPS. Analysts predict that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

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.