Intech Investment Management LLC Purchases Shares of 19,621 Associated Banc-Corp (NYSE:ASB)

Intech Investment Management LLC acquired a new position in Associated Banc-Corp (NYSE:ASB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,621 shares of the bank’s stock, valued at approximately $415,000.

Other large investors have also recently made changes to their positions in the company. MQS Management LLC purchased a new position in shares of Associated Banc during the 2nd quarter valued at $361,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Associated Banc by 4.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after acquiring an additional 525 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Associated Banc by 138.5% in the second quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock worth $174,000 after acquiring an additional 4,775 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Associated Banc by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 130,949 shares of the bank’s stock worth $2,770,000 after purchasing an additional 774 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Associated Banc during the 2nd quarter valued at approximately $38,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASB has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Barclays lifted their price target on shares of Associated Banc from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday. Robert W. Baird dropped their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Piper Sandler increased their price target on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.78.

Insider Buying and Selling at Associated Banc

In other news, Director Lith Karen Van sold 8,061 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the sale, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The disclosure for this sale can be found here. Insiders sold 33,835 shares of company stock worth $757,214 over the last 90 days. Company insiders own 1.45% of the company’s stock.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $21.44 on Friday. The stock has a 50 day moving average price of $21.76 and a 200-day moving average price of $21.32. Associated Banc-Corp has a one year low of $15.16 and a one year high of $24.21. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $321.75 million for the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share. Equities analysts expect that Associated Banc-Corp will post 2.07 EPS for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.10%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s payout ratio is currently 88.89%.

Associated Banc Profile

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.