GAMMA Investing LLC Purchases 455 Shares of Associated Banc-Corp (NYSE:ASB)

GAMMA Investing LLC grew its position in Associated Banc-Corp (NYSE:ASB) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,704 shares of the bank’s stock after acquiring an additional 455 shares during the quarter. GAMMA Investing LLC’s holdings in Associated Banc were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in Associated Banc in the 2nd quarter worth approximately $38,000. Point72 DIFC Ltd purchased a new position in shares of Associated Banc in the 3rd quarter worth approximately $39,000. Farther Finance Advisors LLC boosted its holdings 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 worth $69,000 after purchasing an additional 1,438 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Associated Banc by 138.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock worth $174,000 after purchasing an additional 4,775 shares during the period. Finally, CWM LLC boosted its holdings in shares of Associated Banc by 21.0% in the 3rd quarter. CWM LLC now owns 8,574 shares of the bank’s stock worth $185,000 after purchasing an additional 1,490 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David L. Stein sold 29,536 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Associated Banc Price Performance

ASB opened at $23.26 on Friday. The business has a fifty day moving average of $25.50 and a 200 day moving average of $23.07. Associated Banc-Corp has a 52-week low of $19.40 and a 52-week high of $28.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The stock has a market cap of $3.52 billion, a P/E ratio of 19.38, a PEG ratio of 1.90 and a beta of 0.94.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The business had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. During the same period in the prior year, the business earned $0.53 EPS. As a group, sell-side analysts anticipate that Associated Banc-Corp will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.96%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, December 2nd. Associated Banc’s payout ratio is presently 76.67%.

Analyst Upgrades and Downgrades

ASB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Barclays boosted their price objective on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.00.

About Associated Banc

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.