Foundry Partners LLC Raises Stake in Associated Banc-Corp (NYSE:ASB)

Foundry Partners LLC boosted its position in Associated Banc-Corp (NYSE:ASBFree Report) by 42.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 296,891 shares of the bank’s stock after buying an additional 88,740 shares during the period. Foundry Partners LLC owned approximately 0.20% of Associated Banc worth $5,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. purchased a new stake in Associated Banc in the third quarter valued at approximately $29,000. Quarry LP boosted its position in Associated Banc by 319.6% in the 1st quarter. Quarry LP now owns 2,140 shares of the bank’s stock worth $38,000 after purchasing an additional 1,630 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Associated Banc in the 4th quarter worth approximately $47,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Associated Banc in the 3rd quarter worth approximately $82,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Associated Banc in the 1st quarter worth approximately $91,000. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Insider Activity at Associated Banc

In related news, insider Tammy C. Stadler sold 14,838 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $18.79, for a total value of $278,806.02. Following the completion of the transaction, the insider now directly owns 59,236 shares of the company’s stock, valued at approximately $1,113,044.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Associated Banc news, EVP David L. Stein sold 19,379 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $18.00, for a total value of $348,822.00. Following the completion of the sale, the executive vice president now directly owns 78,286 shares of the company’s stock, valued at approximately $1,409,148. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tammy C. Stadler sold 14,838 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $18.79, for a total value of $278,806.02. Following the completion of the sale, the insider now directly owns 59,236 shares of the company’s stock, valued at $1,113,044.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,672 shares of company stock valued at $967,988. 1.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler upped their price objective on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Raymond James upped their price objective on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods increased their target price on Associated Banc from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, December 4th. Finally, Royal Bank of Canada increased their target price on Associated Banc from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.13.

Get Our Latest Stock Analysis on Associated Banc

Associated Banc Stock Up 2.5 %

NYSE ASB opened at $20.76 on Tuesday. The business has a fifty day moving average price of $20.93 and a 200 day moving average price of $18.56. Associated Banc-Corp has a one year low of $14.47 and a one year high of $24.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $3.14 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.19 and a beta of 1.01.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Thursday, February 29th. Associated Banc’s dividend payout ratio is currently 77.88%.

About Associated Banc

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Associated Banc (NYSE:ASB)

Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.