Associated Banc-Corp (NYSE:ASB) Position Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in shares of Associated Banc-Corp (NYSE:ASB) by 37.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,111 shares of the bank’s stock after acquiring an additional 8,459 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Associated Banc were worth $701,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new position in Associated Banc during the 4th quarter valued at about $37,662,000. Norges Bank bought a new stake in shares of Associated Banc during the fourth quarter valued at approximately $36,144,000. Vanguard Group Inc. boosted its position in shares of Associated Banc by 8.7% during the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank’s stock worth $431,798,000 after buying an additional 1,444,068 shares during the period. FMR LLC boosted its position in shares of Associated Banc by 9.4% during the fourth quarter. FMR LLC now owns 14,838,422 shares of the bank’s stock worth $354,638,000 after buying an additional 1,272,441 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in Associated Banc by 263.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,597,950 shares of the bank’s stock worth $38,191,000 after buying an additional 1,158,576 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stephens cut their target price on Associated Banc from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Truist Financial assumed coverage on shares of Associated Banc in a research note on Tuesday, May 13th. They set a “hold” rating and a $26.00 price objective on the stock. Barclays reduced their price objective on shares of Associated Banc from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on shares of Associated Banc from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $27.00 to $26.00 in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.44.

Associated Banc Trading Up 0.9%

Shares of ASB stock opened at $25.86 on Friday. The stock has a 50-day simple moving average of $23.50 and a 200 day simple moving average of $23.33. The stock has a market capitalization of $4.29 billion, a P/E ratio of 30.07, a P/E/G ratio of 1.12 and a beta of 0.80. Associated Banc-Corp has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.58.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $348.97 million during the quarter, compared to analyst estimates of $347.86 million. Associated Banc had a net margin of 6.02% and a return on equity of 8.47%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, sell-side analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Monday, June 2nd. Associated Banc’s payout ratio is 106.98%.

Insider Transactions at Associated Banc

In related news, CEO Andrew J. Harmening acquired 12,910 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the transaction, the chief executive officer owned 319,269 shares of the company’s stock, valued at approximately $7,423,004.25. The trade was a 4.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.45% of the company’s stock.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.