The institutional cluster shows a clear divergence: one large holder reduced significantly while several tiny holders added. The net negative flow ($9.9M) from a single seller suggests conviction selling, not broad distribution. Monitor next 13F for further reduction by Assenagon and whether any new large holders emerge.
Executive Summary
Four small asset managers added modest positions in Associated Banc-Corp during Q3 2026, while one larger manager trimmed significantly. The net institutional activity is mixed, with the single seller's $10.7M reduction far outweighing the combined $767K in buying. This cluster follows the company's Q3 earnings report (EPS miss of 5.8% vs consensus, but net income up 18% YoY and NIM expansion).
Key Financial Metrics
Institutional Positions
Net institutional flow: -$9.9M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | ADD | +63.1% | $126.0K | $43.0K |
| Wealth Enhancement Advisory Services | ADD | +27.5% | $3.0M | $526.0K |
| Assetmark | ADD | +29.4% | $7.0K | $1.0K |
| Hb Wealth Management | ADD | +64.7% | $567.0K | $197.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -29.7% | $30.9M | -$10.7M |
Key Facts
- 4 buyers added a net $767K in ASB positions during Q3 2026
- 1 seller (Assenagon Asset Management) trimmed $10.7M, reducing its stake by 29.7%
- Aggregate net institutional flow was negative $9.9M (buying $767K vs selling $10.7M)
- All 5 institutions are asset managers (no activist, quant, or passive/index funds)
- Filing follows Q3 2026 earnings: EPS miss of $0.76 vs $0.81 consensus, but net income up 18% YoY
Financial Impact
Net institutional selling of $9.9M in Q3 2026, with one large seller (Assenagon) reducing by $10.7M and four small buyers adding $767K combined
Risk Factors
- 13F data is 45+ days stale; positions may have changed since quarter-end
- Single large seller dominates the cluster signal; small buyers may be passive or model-driven
- EPS miss of 5.8% and rising nonaccrual loans (+73% YoY) could pressure the stock
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ASB-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $30.21 | awaiting T+20 | — | — |
Oct 22, 2026 4d ago | 8-K | $30.21 | awaiting T+20 | — | — |
Oct 22, 2026 4d ago | Press Release | $30.21 | awaiting T+20 | — | — |
Oct 1, 2026 25d ago | Press Release | $29.00 | awaiting T+20 | — | — |
Sep 14, 2026 6w ago | 8-K | $30.32 $28.56 | ▼ −5.80% | ▼ −8.53% | — |
Sep 2, 2026 7w ago | Press Release | $30.91 $29.00 | ▼ −6.18% | ▼ −4.99% | — |
Aug 13, 2026 10w ago | Insider Cluster | $32.16 $30.04 | ▼ −6.59% | ▼ −4.84% | — |
Aug 13, 2026 10w ago | Insider Cluster | $32.16 $30.04 | ▼ −6.59% | ▼ −4.84% | — |
Aug 13, 2026 10w ago | Insider Cluster | $32.16 $30.04 | ▼ −6.59% | ▼ −4.84% | — |
Aug 5, 2026 11w ago | Insider Cluster | $31.53 $30.58 | ▼ −3.01% | ▼ −2.41% | — |
US Market Status
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