RIA Advisory Group LLC Invests $1.94 Million in Associated Banc-Corp (NYSE:ASB)

RIA Advisory Group LLC acquired a new position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,850 shares of the bank's stock, valued at approximately $1,935,000. Associated Banc makes up approximately 0.7% of RIA Advisory Group LLC's investment portfolio, making the stock its 24th largest position. RIA Advisory Group LLC owned about 0.06% of Associated Banc as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank's stock worth $26,000 after purchasing an additional 907 shares in the last quarter. Quest Partners LLC purchased a new stake in Associated Banc in the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC grew its stake in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock worth $69,000 after acquiring an additional 1,438 shares during the period. Neo Ivy Capital Management purchased a new stake in Associated Banc in the 2nd quarter worth approximately $93,000. Finally, nVerses Capital LLC purchased a new stake in Associated Banc in the 2nd quarter worth approximately $140,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Down 0.3 %

Associated Banc stock traded down $0.07 during midday trading on Friday, hitting $26.60. 9,644,719 shares of the stock were exchanged, compared to its average volume of 1,396,721. Associated Banc-Corp has a 1 year low of $17.30 and a 1 year high of $28.18. The firm 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. The company has a 50 day moving average price of $22.82 and a two-hundred day moving average price of $21.96.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, sell-side analysts predict that Associated Banc-Corp will post 2.12 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.46%. This is an increase from Associated Banc's previous quarterly dividend of $0.22. Associated Banc's payout ratio is presently 73.33%.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,000 shares of the business'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 sale, the executive vice president now owns 99,637 shares of the company's stock, valued at $2,269,730.86. This represents a 1.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares of the company's stock, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,641 shares of company stock valued at $1,481,496. Insiders own 1.45% of the company's stock.

Wall Street Analysts Forecast Growth

ASB has been the subject of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Associated Banc from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Piper Sandler lifted their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. Stephens reiterated an "equal weight" rating and issued a $24.00 price target on shares of Associated Banc in a report on Tuesday, July 30th. Robert W. Baird decreased 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, Barclays lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.89.

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.