Nuveen Asset Management LLC Acquires 364,070 Shares of Associated Banc-Corp (NYSE:ASB)

Posted by Defense World Staff on Mar 4th, 2023

Nuveen Asset Management LLC lifted its holdings in shares of Associated Banc-Corp (NYSE:ASB – Get Rating) by 60.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,952 shares of the bank’s stock after purchasing an additional 364,070 shares during the period. Nuveen Asset Management LLC owned 0.64% of Associated Banc worth $19,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ASB. Guardian Wealth Advisors LLC bought a new stake in shares of Associated Banc during the 3rd quarter valued at about $26,000. Quadrant Capital Group LLC boosted its position in shares of Associated Banc by 94.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,779 shares of the bank’s stock valued at $36,000 after purchasing an additional 862 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Associated Banc in the first quarter worth approximately $91,000. Covestor Ltd boosted its holdings in Associated Banc by 67.3% in the first quarter. Covestor Ltd now owns 4,793 shares of the bank’s stock worth $109,000 after acquiring an additional 1,928 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in Associated Banc in the second quarter worth approximately $110,000. Institutional investors own 78.95% of the company’s stock.

Associated Banc Stock Up 2.0 %

Shares of NYSE:ASB opened at $23.09 on Friday. The business’s 50 day simple moving average is $23.11 and its two-hundred day simple moving average is $22.53. The firm has a market cap of $3.48 billion, a P/E ratio of 9.83, a PEG ratio of 1.19 and a beta of 1.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.95 and a current ratio of 0.95. Associated Banc-Corp has a 52-week low of $17.45 and a 52-week high of $25.50.

Associated Banc (NYSE:ASB – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $452.94 million for the quarter, compared to analyst estimates of $347.92 million. Associated Banc had a return on equity of 9.70% and a net margin of 25.65%. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, research analysts forecast that Associated Banc-Corp will post 2.45 EPS for the current fiscal year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.84 annualized dividend and a yield of 3.64%. Associated Banc’s payout ratio is currently 35.74%.

Insiders Place Their Bets

In other news, Director John B. Williams sold 1,840 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $23.95, for a total value of $44,068.00. Following the completion of the sale, the director now directly owns 57,576 shares of the company’s stock, valued at $1,378,945.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director John B. Williams sold 1,840 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $23.95, for a total value of $44,068.00. Following the completion of the sale, the director now directly owns 57,576 shares of the company’s stock, valued at $1,378,945.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lith Karen Van sold 4,889 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $23.93, for a total value of $116,993.77. Following the completion of the sale, the director now directly owns 58,677 shares of the company’s stock, valued at $1,404,140.61. The disclosure for this sale can be found here. Corporate insiders own 3.04% of the company’s stock.

Associated Banc Company Profile

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Associated Banc-Corp. is a holding company, which engages in banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.