Edgestream Partners L.P. Buys 18,371 Shares of Associated Banc-Corp (NYSE:ASB)

Edgestream Partners L.P. grew its position in Associated Banc-Corp (NYSE:ASB - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300,715 shares of the bank's stock after acquiring an additional 18,371 shares during the quarter. Edgestream Partners L.P. owned 0.20% of Associated Banc worth $7,187,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in shares of Associated Banc in the third quarter valued at $39,000. Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock valued at $42,000 after buying an additional 579 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Associated Banc during the 4th quarter valued at about $56,000. Sugar Maple Asset Management LLC bought a new stake in Associated Banc in the fourth quarter valued at about $64,000. Finally, R Squared Ltd acquired a new position in Associated Banc in the fourth quarter worth about $67,000. Institutional investors own 82.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. Stephens reaffirmed an "equal weight" rating and set a $28.00 price objective on shares of Associated Banc in a report on Friday, January 24th. Barclays increased 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. Wells Fargo & Company lifted their price objective on Associated Banc from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Finally, Piper Sandler raised their target price on Associated Banc from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.11.

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Associated Banc Trading Down 1.8 %

Shares of ASB traded down $0.39 on Tuesday, reaching $21.07. 2,361,405 shares of the company's stock were exchanged, compared to its average volume of 1,371,690. The business has a 50 day moving average price of $24.58 and a two-hundred day moving average price of $24.01. Associated Banc-Corp has a 12 month low of $19.76 and a 12 month high of $28.18. The stock has a market capitalization of $3.50 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

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

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.23 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.37%. Associated Banc's payout ratio is currently 116.46%.

Insider Activity

In related news, Director John B. Williams sold 2,830 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the sale, the director now owns 66,915 shares in the company, valued at $1,678,897.35. This represents a 4.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

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.