UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in Associated Banc-Corp $ASB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Associated Banc-Corp (NYSE:ASB) by 14.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400,453 shares of the bank’s stock after acquiring an additional 51,068 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of Associated Banc worth $12,322,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC grew its stake in shares of Associated Banc by 4,250.0% in the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after purchasing an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Associated Banc in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its position in shares of Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc during the third quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $56,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ASB shares. Wells Fargo & Company raised their price objective on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Piper Sandler restated a “neutral” rating and issued a $34.00 target price on shares of Associated Banc in a research note on Wednesday, August 26th. Truist Financial raised their target price on Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Finally, Raymond James Financial increased their price objective on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $31.08 on Friday. The firm’s 50-day moving average price is $31.00 and its 200-day moving average price is $28.63. Associated Banc-Corp has a 52-week low of $23.86 and a 52-week high of $32.46. The company has a market cap of $5.87 billion, a PE ratio of 10.87, a PEG ratio of 1.05 and a beta of 0.76. 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 (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $454.54 million for the quarter, compared to analysts’ expectations of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period in the prior year, the firm earned $0.65 EPS. As a group, analysts anticipate that Associated Banc-Corp will post 2.94 EPS for the current year.

Associated Banc Dividend Announcement

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

Insider Buying and Selling at Associated Banc

In other news, EVP Nicole Kitowski sold 7,663 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total transaction of $236,863.33. Following the completion of the sale, the executive vice president owned 45,327 shares of the company’s stock, valued at $1,401,057.57. The trade was a 14.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Derek Meyer sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 61,662 shares of the company’s stock, valued at $1,895,489.88. This trade represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 88,833 shares of company stock worth $2,787,053. Insiders own 0.71% of the company’s stock.

Associated Banc 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.