3,983 Shares in Associated Banc-Corp (NYSE:ASB) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of Associated Banc-Corp (NYSE:ASB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,983 shares of the bank’s stock, valued at approximately $84,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Command Advisory Services Inc. purchased a new stake in shares of Associated Banc in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC purchased a new stake in shares of Associated Banc in the 4th quarter valued at about $92,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Associated Banc in the 3rd quarter valued at about $82,000. NBC Securities Inc. purchased a new stake in shares of Associated Banc in the 3rd quarter valued at about $95,000. Finally, Covestor Ltd raised its holdings in shares of Associated Banc by 15.3% in the 3rd quarter. Covestor Ltd now owns 8,341 shares of the bank’s stock valued at $143,000 after acquiring an additional 1,109 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASB. Barclays raised their price target on Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 price objective on shares of Associated Banc in a research report on Tuesday, April 9th. Raymond James increased their price objective on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Piper Sandler increased their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company increased their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Associated Banc has a consensus rating of “Hold” and a consensus price target of $23.13.

Associated Banc Price Performance

ASB opened at $21.59 on Tuesday. The stock’s 50 day simple moving average is $20.80 and its 200 day simple moving average is $19.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86. Associated Banc-Corp has a 1 year low of $14.47 and a 1 year high of $22.16. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 1.27 and a beta of 1.00.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The business had revenue of $322.84 million for the quarter, compared to analyst estimates of $325.00 million. During the same period last year, the company earned $0.66 EPS. Associated Banc’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts predict that Associated Banc-Corp will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now owns 50,126 shares in the company, valued at approximately $1,053,648.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the transaction, the director now owns 62,876 shares in the company, valued at approximately $1,229,225.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The disclosure for this sale can be found here. Insiders have sold a total of 21,710 shares of company stock worth $454,897 in the last ninety days. 1.45% of the stock is owned by insiders.

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.