Crescent Grove Advisors LLC Has $1.90 Million Stake in Associated Banc-Corp (NYSE:ASB)

Crescent Grove Advisors LLC trimmed its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,070 shares of the bank's stock after selling 23,774 shares during the quarter. Crescent Grove Advisors LLC owned approximately 0.06% of Associated Banc worth $1,897,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. LSV Asset Management grew its stake in Associated Banc by 43.3% during the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank's stock valued at $87,133,000 after acquiring an additional 1,224,216 shares in the last quarter. Millennium Management LLC increased its stake in Associated Banc by 291.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank's stock valued at $33,063,000 after buying an additional 1,163,807 shares during the period. M&G Plc purchased a new stake in Associated Banc in the 1st quarter worth approximately $8,057,000. Point72 Asset Management L.P. boosted its stake in shares of Associated Banc by 12.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank's stock valued at $24,309,000 after buying an additional 123,271 shares during the period. Finally, Interval Partners LP grew its holdings in shares of Associated Banc by 27.6% during the 2nd quarter. Interval Partners LP now owns 442,947 shares of the bank's stock valued at $9,368,000 after acquiring an additional 95,928 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company's stock.

Associated Banc Stock Performance

Shares of NYSE ASB traded up $4.16 during trading hours on Wednesday, hitting $28.15. 5,195,753 shares of the company's stock were exchanged, compared to its average volume of 1,353,764. The company's 50-day moving average price is $22.04 and its 200-day moving average price is $21.64. Associated Banc-Corp has a 1-year low of $16.59 and a 1-year high of $28.17. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.82 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 - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. During the same period in the previous year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that Associated Banc-Corp will post 2.08 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.27%. This is a positive change from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. Associated Banc's dividend payout ratio (DPR) is currently 76.67%.

Analysts Set New Price Targets

A number of research analysts have commented on ASB shares. Baird R W downgraded Associated Banc from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Piper Sandler increased their price objective on Associated Banc from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Friday, July 26th. StockNews.com upgraded shares of Associated Banc from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Robert W. Baird cut their price target on shares of Associated Banc from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Finally, 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 research note on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $23.89.

Insider Activity

In related news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now directly owns 54,114 shares of the company's stock, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lith Karen Van sold 8,061 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares of the company's stock, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the sale, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,105 shares of company stock valued at $671,324. Insiders own 1.45% of the company's stock.

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.