Financiere des Professionnels Fonds d investissement inc. Acquires New Position in Associated Banc-Corp $ASB

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Associated Banc-Corp (NYSE:ASB) in the first quarter, HoldingsChannel.com reports. The fund acquired 53,833 shares of the bank’s stock, valued at approximately $1,392,000.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Associated Banc by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after purchasing an additional 5,531 shares in the last quarter. Millennium Management LLC lifted its position in Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after buying an additional 136,648 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after buying an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Associated Banc during the second quarter worth $328,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Trading Down 1.6%

Shares of Associated Banc stock opened at $31.27 on Friday. The stock has a 50 day moving average of $29.14 and a 200 day moving average of $27.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.17 and a beta of 0.76. Associated Banc-Corp has a fifty-two week low of $23.63 and a fifty-two week high of $31.83.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The company had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. As a group, research analysts predict that Associated Banc-Corp will post 2.91 earnings per share for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 1st. Associated Banc’s dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

In related news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the sale, the executive vice president directly owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew R. Braeger sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president directly owned 11,777 shares in the company, valued at $331,758.09. The trade was a 29.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,299 shares of company stock valued at $801,760 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler raised their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Zacks Research cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Truist Financial upped their price objective on shares of Associated Banc from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company lifted their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Associated Banc presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.