Cubist Systematic Strategies LLC Has $599,000 Holdings in Associated Banc-Corp (NYSE:ASB)

Cubist Systematic Strategies LLC lifted its holdings in Associated Banc-Corp (NYSE:ASB) by 43.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,313 shares of the bank’s stock after acquiring an additional 8,513 shares during the period. Cubist Systematic Strategies LLC’s holdings in Associated Banc were worth $599,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ASB. Steph & Co. grew its stake in Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares in the last quarter. Bessemer Group Inc. grew its stake in Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after buying an additional 907 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in Associated Banc during the fourth quarter worth about $28,000. Quest Partners LLC acquired a new stake in Associated Banc during the second quarter worth about $38,000. Finally, Meeder Asset Management Inc. acquired a new stake in Associated Banc during the first quarter worth about $74,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares in the company, valued at $2,958,353.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,835 shares of company stock worth $757,214 in the last quarter. 1.45% of the stock is owned by corporate insiders.

Associated Banc Stock Up 2.6 %

Associated Banc stock opened at $21.89 on Friday. 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-Corp has a 52-week low of $15.16 and a 52-week high of $24.21. The firm has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $21.37. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.66 and a beta of 0.93.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The firm had revenue of $321.75 million during the quarter, compared to analyst estimates of $330.69 million. During the same quarter last year, the business earned $0.56 EPS. The company’s revenue was down .5% compared to the same quarter last year. Equities analysts predict that Associated Banc-Corp will post 2.06 EPS for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 4.02%. Associated Banc’s dividend payout ratio is currently 88.89%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Baird R W downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Finally, Barclays raised their price target on shares of Associated Banc from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.78.

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.