Advantage Alpha Capital Partners LP Increases Position in Associated Banc-Corp (NYSE:ASB)

Advantage Alpha Capital Partners LP grew its position in Associated Banc-Corp (NYSE:ASB) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,292 shares of the bank’s stock after purchasing an additional 2,699 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Associated Banc were worth $581,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Associated Banc during the third quarter worth approximately $39,000. Smartleaf Asset Management LLC grew its holdings in shares of Associated Banc by 49.6% during the fourth 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 acquired a new stake in shares of Associated Banc during the fourth quarter worth about $56,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Associated Banc in the 4th quarter valued at about $64,000. Finally, R Squared Ltd acquired a new stake in shares of Associated Banc in the 4th quarter valued at about $67,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Up 3.1 %

ASB stock opened at $23.22 on Tuesday. The company has a 50 day moving average price of $24.20 and a two-hundred day moving average price of $23.99. Associated Banc-Corp has a one year low of $19.76 and a one year high of $28.18. The stock has a market capitalization of $3.85 billion, a P/E ratio of 29.39, a PEG ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88.

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

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.23 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 3.96%. Associated Banc’s payout ratio is 116.46%.

Insider Buying and Selling at Associated Banc

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays raised their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Royal Bank of Canada upped their price target on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Robert W. Baird dropped their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Finally, Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.11.

Associated Banc Profile

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.