Yousif Capital Management LLC Decreases Holdings in Associated Banc-Corp $ASB

Yousif Capital Management LLC trimmed its position in shares of Associated Banc-Corp (NYSE:ASB) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,713 shares of the bank’s stock after selling 868 shares during the period. Yousif Capital Management LLC’s holdings in Associated Banc were worth $1,334,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ASB. Goldman Sachs Group Inc. raised its holdings in shares of Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Associated Banc by 200.3% during the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock valued at $42,853,000 after buying an additional 1,287,458 shares in the last quarter. Nuveen LLC purchased a new position in shares of Associated Banc during the 1st quarter valued at about $23,510,000. Invesco Ltd. raised its holdings in shares of Associated Banc by 83.2% during the 1st quarter. Invesco Ltd. now owns 1,308,946 shares of the bank’s stock valued at $29,491,000 after buying an additional 594,361 shares in the last quarter. Finally, Leeward Investments LLC MA purchased a new position in shares of Associated Banc during the 1st quarter valued at about $12,345,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Trading Up 4.0%

NYSE ASB opened at $25.35 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. Associated Banc-Corp has a twelve month low of $18.32 and a twelve month high of $28.18. The firm has a market capitalization of $4.20 billion, a PE ratio of 32.92, a P/E/G ratio of 0.97 and a beta of 0.82. The stock’s 50 day moving average is $25.92 and its 200 day moving average is $24.26.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The company had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. Associated Banc’s payout ratio is currently 119.48%.

Insider Activity at Associated Banc

In related news, EVP Matthew R. Braeger sold 2,000 shares of Associated Banc stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the sale, the executive vice president directly owned 13,346 shares in the company, valued at $351,533.64. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick Edward Ahern sold 3,342 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the sale, the executive vice president directly owned 41,472 shares in the company, valued at $1,086,566.40. This trade represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,342 shares of company stock worth $494,360 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ASB. Royal Bank Of Canada lifted their price target on Associated Banc from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Piper Sandler lifted their price target on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Robert W. Baird lifted their price target on Associated Banc from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Associated Banc in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and an average target price of $28.11.

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.