Brevan Howard Capital Management 13F: Adds $5.5M to ASB Stake

Brevan Howard Capital Management Boosts Stake in Associated Banc-Corp

Brevan Howard Capital Management expanded its investment in Associated Banc-Corp (NYSE: ASB), according to a Form 13F filing with the Securities and Exchange Commission. The filing reflects holdings as of the reporting period and may not represent the investor's current position today. The institutional investor lifted its position with a large addition of shares during the period.

Position Growth in Associated Banc-Corp Shares

The fund increased its holdings by adding 179,871 shares to its portfolio, marking a 2,225.6% jump from its previous count of 8,082 shares. This brought Brevan Howard Capital Management's total ownership to 187,953 shares. The expanded position carried a reported value of about $5.8 million.

Stock Performance and Valuation Context

Associated Banc-Corp shares recently traded hands at $30.77. The stock sits within a 52-week range spanning from a low of $23.86 to a high of $32.46. The company has a price-to-earnings ratio of 10.3 and a forward P/E of 8.8.

Recent Insider Purchases by Bank Executives

Several executives at Associated Banc-Corp bought shares on June 15, 2026. President and CEO Andrew Harmening purchased 2,554 shares at an average price of $29.41, totaling $75,113.14. Other leaders also added to their holdings on the same date, including EVP Jayne Hladio buying 13 shares for $383.37, EVP Julio Manso picking up 34 shares worth $1,002.18, Chief Information Officer Williams Terry Lynn acquiring 78 shares for $2,300.22, Executive Vice President Nicole Kitowski buying 26 shares valued at $766.74, and EVP Steven Zandpour adding 82 shares for $2,418.18.

Wall Street Analyst Ratings and Views

Analyst firms continue to cover the bank with various price targets and ratings. On October 5, 2026, Barclays maintained its overweight rating on the stock with a $35.00 target, up from its prior target of $34.00. Wells Fargo also maintains an overweight rating with a $35.00 target as of September 30, following an earlier target of $36.00 set on August 10. Truist Securities holds a hold rating with a $33.00 target as of August 4, while Raymond James maintains an outperform rating with a $35.00 target as of July 1.

Overview of Associated Banc-Corp Operations

Headquartered in Green Bay, Wisconsin, Associated Banc-Corp operates as a regional bank holding company providing commercial banking, retail banking, and wealth management solutions to individuals and businesses across Wisconsin, Illinois, Minnesota, Missouri, and Texas. The bank handles lending, treasury management, and trust services through its extensive branch network and offices.

What to Watch Next for ASB

Investors tracking Brevan Howard Capital Management will need to wait for subsequent quarterly SEC filings to see if the fund maintains or alters its position. Meanwhile, the bank's next earnings report is scheduled for October 22, 2026. These backward-looking 13F reports do not guarantee current positioning, and market participants should review all available data before making financial decisions.