Cwm LLC Buys 1,490 Shares of Associated Banc-Corp (NYSE:ASB)

Cwm LLC lifted its stake in Associated Banc-Corp (NYSE:ASB) by 21.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,574 shares of the bank’s stock after buying an additional 1,490 shares during the quarter. Cwm LLC’s holdings in Associated Banc were worth $185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ASB. Vanguard Group Inc. lifted its holdings in shares of Associated Banc by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after purchasing an additional 184,813 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Associated Banc in the 1st quarter worth approximately $866,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Associated Banc by 71.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock worth $1,591,000 after buying an additional 30,732 shares during the last quarter. M&G Plc raised its position in Associated Banc by 12.4% in the second quarter. M&G Plc now owns 411,761 shares of the bank’s stock worth $8,647,000 after acquiring an additional 45,542 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Associated Banc during the first quarter valued at about $609,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Price Performance

ASB stock opened at $22.47 on Thursday. Associated Banc-Corp has a 52 week low of $15.20 and a 52 week high of $24.21. The firm has a market capitalization of $3.39 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. The company has a fifty day simple moving average of $21.73 and a two-hundred day simple moving average of $21.45. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $330.69 million. During the same quarter last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that Associated Banc-Corp will post 2.06 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is 88.89%.

Insider Activity

In related news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 128,680 shares in the company, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now directly owns 99,637 shares in the company, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,835 shares of company stock valued at $757,214. 1.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stephens reaffirmed an “equal weight” rating and set a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price target on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Piper Sandler upped their price objective on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Jefferies Financial Group dropped their target price on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, Baird R W downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.