Lazard Asset Management LLC Boosts Holdings in Associated Banc-Corp $ASB

Lazard Asset Management LLC grew its stake in shares of Associated Banc-Corp (NYSE:ASB) by 45.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,101 shares of the bank’s stock after purchasing an additional 17,519 shares during the period. Lazard Asset Management LLC’s holdings in Associated Banc were worth $1,451,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ASB. IAG Wealth Partners LLC raised its stake in 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 buying an additional 1,190 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Associated Banc during the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its position in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc during the 3rd quarter worth approximately $51,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Associated Banc during the 4th quarter worth approximately $56,000. Institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

ASB has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays increased their price objective on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Finally, Robert W. Baird upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.10.

Associated Banc Stock Performance

Shares of ASB opened at $31.73 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average price is $29.89 and its 200-day moving average price is $28.05. Associated Banc-Corp has a 52 week low of $23.66 and a 52 week high of $32.00. The stock has a market cap of $5.98 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.07 and a beta of 0.77.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $454.54 million during 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 last year, the company earned $0.65 EPS. Equities research analysts anticipate that Associated Banc-Corp will post 2.9 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.

Insider Activity

In other news, EVP Matthew R. Braeger sold 5,000 shares of Associated Banc stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value 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 $331,758.09. The trade was a 29.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dennis Deloye sold 14,299 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction 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. The trade was a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 41,962 shares of company stock valued at $1,233,303. 0.71% of the stock is currently owned by insiders.

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.