Interval Partners LP Increases Position in Associated Banc-Corp $ASB

Interval Partners LP increased its stake in shares of Associated Banc-Corp (NYSE:ASB) by 50.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 791,522 shares of the bank’s stock after buying an additional 264,025 shares during the quarter. Interval Partners LP’s holdings in Associated Banc were worth $20,390,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Associated Banc during the fourth quarter valued at $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after buying an additional 408 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Associated Banc during the third quarter valued at $51,000. Finally, Hoese & Co LLP purchased a new stake in Associated Banc in the fourth quarter valued at $52,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASB has been the topic of several recent research reports. Piper Sandler upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Truist Financial upped their price target on shares of Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company upped their price target on shares of Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.30.

Insider Activity

In other Associated Banc news, EVP Dennis Deloye sold 14,299 shares of the company’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 completion of the transaction, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. This represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 stock was 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 owned 11,777 shares of the company’s stock, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 28,299 shares of company stock worth $801,760. 0.71% of the stock is currently owned by insiders.

Associated Banc Price Performance

NYSE:ASB opened at $28.88 on Thursday. Associated Banc-Corp has a one year low of $22.48 and a one year high of $29.96. 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 cap of $5.45 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.70 and a beta of 0.77. The firm’s fifty day moving average is $27.96 and its two-hundred day moving average is $27.01.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The company had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same period in the prior year, the company earned $0.59 earnings per share. Research analysts expect that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.24 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.3%. Associated Banc’s dividend payout ratio is 33.33%.

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.