RIA Advisory Group LLC Makes New Investment in Associated Banc-Corp (NYSE:ASB)

RIA Advisory Group LLC purchased a new stake in Associated Banc-Corp (NYSE:ASB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 89,850 shares of the bank’s stock, valued at approximately $1,935,000. Associated Banc accounts for 0.7% of RIA Advisory Group LLC’s holdings, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new position in shares of Associated Banc in the first quarter valued at approximately $866,000. M&G Plc increased its holdings in Associated Banc by 12.4% during the 2nd quarter. M&G Plc now owns 411,761 shares of the bank’s stock worth $8,647,000 after purchasing an additional 45,542 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Associated Banc by 71.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock valued at $1,591,000 after purchasing an additional 30,732 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Associated Banc in the first quarter valued at about $609,000. Finally, SG Americas Securities LLC acquired a new position in shares of Associated Banc during the first quarter worth about $523,000. 82.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Associated Banc presently has an average rating of “Hold” and a consensus price target of $23.89.

Associated Banc Stock Performance

Shares of ASB stock opened at $26.60 on Friday. The company has a fifty day moving average price of $22.82 and a two-hundred day moving average price of $21.96. Associated Banc-Corp has a one year low of $17.30 and a one year high of $28.18. The stock has a market cap of $4.02 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million for the quarter, compared to analysts’ expectations of $336.52 million. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities analysts predict that Associated Banc-Corp will post 2.12 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. Associated Banc’s dividend payout ratio (DPR) is presently 73.33%.

Insider Transactions at Associated Banc

In other news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares in the company, valued at approximately $1,108,254.72. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the transaction, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 58,641 shares of company stock worth $1,481,496. 1.45% of the stock is owned by company insiders.

Associated Banc Company 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.