Wealth Enhancement Advisory Services LLC Purchases 525 Shares of Associated Banc-Corp (NYSE:ASB)

Wealth Enhancement Advisory Services LLC raised its position in shares of Associated Banc-Corp (NYSE:ASB) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,461 shares of the bank’s stock after acquiring an additional 525 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Associated Banc were worth $419,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. boosted 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 acquiring an additional 907 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Associated Banc in the 2nd quarter valued at about $38,000. Meeder Asset Management Inc. acquired a new stake in shares of Associated Banc in the 1st quarter valued at about $74,000. Neo Ivy Capital Management bought a new stake in Associated Banc in the 2nd quarter valued at about $93,000. Finally, nVerses Capital LLC bought a new position in Associated Banc in the second quarter worth approximately $140,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Down 0.3 %

ASB stock opened at $26.78 on Friday. Associated Banc-Corp has a 1-year low of $16.59 and a 1-year high of $28.17. The stock has a market cap of $4.05 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 0.91. The stock’s fifty day simple moving average is $22.31 and its two-hundred day simple moving average is $21.77. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter last year, the company posted $0.53 earnings per share. Analysts expect that Associated Banc-Corp will post 2.12 EPS for the current year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s payout ratio is 73.33%.

Wall Street Analyst Weigh In

ASB has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Piper Sandler boosted their price objective on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.89.

Insider Buying and Selling at Associated Banc

In other news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the transaction, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the sale, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,641 shares of company stock valued at $1,481,496. Company insiders own 1.45% of the company’s stock.

Associated Banc Company 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.