State of Alaska Department of Revenue Acquires 1,135 Shares of Associated Banc-Corp (NYSE:ASB)

State of Alaska Department of Revenue boosted its stake in Associated Banc-Corp (NYSE:ASB) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,355 shares of the bank’s stock after acquiring an additional 1,135 shares during the period. State of Alaska Department of Revenue’s holdings in Associated Banc were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ASB. Point72 DIFC Ltd bought a new stake in shares of Associated Banc during the 3rd quarter valued at about $39,000. Crews Bank & Trust bought a new stake in Associated Banc during the 4th quarter valued at approximately $56,000. Sugar Maple Asset Management LLC purchased a new position in shares of Associated Banc during the 4th quarter worth approximately $64,000. R Squared Ltd bought a new position in shares of Associated Banc in the 4th quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares during the period. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Price Performance

Shares of NYSE ASB opened at $25.08 on Friday. The firm has a market cap of $3.79 billion, a P/E ratio of 31.74, a PEG ratio of 1.61 and a beta of 0.94. Associated Banc-Corp has a twelve month low of $19.76 and a twelve month high of $28.18. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $24.76 and a 200 day moving average of $23.64.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. As a group, research analysts expect that Associated Banc-Corp will post 2.41 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, March 3rd. Associated Banc’s dividend payout ratio is currently 116.46%.

Analyst Ratings Changes

ASB has been the subject of a number of research reports. Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Piper Sandler boosted their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Royal Bank of Canada raised their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Finally, StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat, Associated Banc has an average rating of “Hold” and an average price target of $27.00.

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.