West Family Investments Inc. Acquires Shares of 16,641 Associated Banc-Corp $ASB

West Family Investments Inc. bought a new stake in Associated Banc-Corp (NYSE:ASB) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 16,641 shares of the bank’s stock, valued at approximately $512,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Associated Banc during the 2nd quarter worth $715,927,000. Vanguard Group Inc. lifted its position in shares of Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after buying an additional 545,185 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Associated Banc by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank’s stock valued at $253,709,000 after buying an additional 170,080 shares in the last quarter. State Street Corp grew its position in Associated Banc by 1.7% in the fourth quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock valued at $224,404,000 after acquiring an additional 147,372 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Associated Banc by 127.6% in the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after acquiring an additional 3,347,699 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ASB shares. Keefe, Bruyette & Woods increased their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Wells Fargo & Company upped their price objective on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Truist Financial raised their target price on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Associated Banc has an average rating of “Moderate Buy” and an average target price of $31.60.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Gregory Warsek sold 16,300 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the transaction, the executive vice president directly owned 13,809 shares in the company, valued at approximately $442,026.09. This represents a 54.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derek S. Meyer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the transaction, the executive vice president owned 61,662 shares in the company, valued at $1,895,489.88. The trade was a 13.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 101,823 shares of company stock valued at $3,150,761 over the last ninety days. Insiders own 0.71% of the company’s stock.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $30.82 on Thursday. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.07 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Associated Banc-Corp has a twelve month low of $23.86 and a twelve month high of $32.46. The company’s fifty day moving average is $30.74 and its 200 day moving average is $28.43.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts forecast that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Associated Banc’s dividend payout ratio (DPR) is 33.57%.

Associated Banc Company Profile

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.