Interval Partners LP Has $7.46 Million Position in Associated Banc-Corp (NYSE:ASB)

Interval Partners LP cut its stake in Associated Banc-Corp (NYSE:ASB) by 44.4% in the first quarter, HoldingsChannel.com reports. The fund owned 347,019 shares of the bank’s stock after selling 276,896 shares during the period. Interval Partners LP’s holdings in Associated Banc were worth $7,464,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Steph & Co. grew its holdings in shares of Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after buying an additional 964 shares during the period. Bessemer Group Inc. lifted its holdings in Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after acquiring an additional 907 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in Associated Banc in the fourth quarter valued at about $28,000. Parallel Advisors LLC increased its holdings in shares of Associated Banc by 64.0% in the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after acquiring an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Associated Banc by 183.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after purchasing an additional 1,850 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ASB. Baird R W lowered Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird reduced their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday. Piper Sandler boosted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday. Barclays lowered their target price on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Finally, Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.67.

Insider Activity

In related news, insider Paul Gregory Schmidt 23,673 shares of Associated Banc stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Gregory Schmidt 23,673 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 2,500 shares of Associated Banc stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Associated Banc Stock Up 0.7 %

NYSE:ASB traded up $0.15 on Tuesday, hitting $23.20. 1,833,453 shares of the company’s stock were exchanged, compared to its average volume of 1,355,253. The company has a market cap of $3.50 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. The firm has a 50-day moving average price of $21.30 and a 200-day moving average price of $21.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc-Corp has a 52 week low of $15.16 and a 52 week high of $24.21.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. Associated Banc’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, analysts expect that Associated Banc-Corp will post 2.14 EPS for the current fiscal year.

Associated Banc Company 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.