Intech Investment Management LLC Has $1.89 Million Position in Associated Banc-Corp (NYSE:ASB)

Intech Investment Management LLC grew its holdings in shares of Associated Banc-Corp (NYSE:ASB) by 85.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 79,073 shares of the bank’s stock after purchasing an additional 36,376 shares during the period. Intech Investment Management LLC’s holdings in Associated Banc were worth $1,890,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ASB. Point72 DIFC Ltd bought a new stake in Associated Banc during the third quarter worth about $39,000. Smartleaf Asset Management LLC increased its position in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock worth $42,000 after purchasing an additional 579 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Associated Banc during the 4th quarter worth approximately $56,000. Sugar Maple Asset Management LLC bought a new stake in shares of Associated Banc during the 4th quarter worth approximately $64,000. Finally, R Squared Ltd acquired a new stake in shares of Associated Banc in the 4th quarter valued at approximately $67,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Barclays boosted their price target on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Associated Banc currently has an average rating of “Hold” and a consensus target price of $27.11.

Associated Banc Stock Performance

ASB opened at $22.79 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $3.79 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The business has a fifty day simple moving average of $24.23 and a 200 day simple moving average of $23.96. Associated Banc-Corp has a 1 year low of $19.76 and a 1 year high of $28.18.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. Research analysts expect that Associated Banc-Corp will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.23 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.04%. Associated Banc’s payout ratio is 116.46%.

Insider Activity

In related news, Director Eileen A. Kamerick sold 7,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Williams sold 2,830 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the sale, the director now directly owns 66,915 shares of the company’s stock, valued at $1,678,897.35. This represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.