GAMMA Investing LLC Has $161,000 Stake in Associated Banc-Corp $ASB

GAMMA Investing LLC raised its holdings in Associated Banc-Corp (NYSE:ASB) by 26.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,619 shares of the bank’s stock after acquiring an additional 1,368 shares during the period. GAMMA Investing LLC’s holdings in Associated Banc were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in Associated Banc by 73.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,981 shares of the bank’s stock valued at $1,396,000 after acquiring an additional 22,870 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Associated Banc during the second quarter worth about $328,000. Pallas Capital Advisors LLC acquired a new position in shares of Associated Banc during the second quarter worth about $422,000. Invst LLC acquired a new position in shares of Associated Banc during the first quarter worth about $723,000. Finally, Strs Ohio acquired a new position in shares of Associated Banc during the first quarter worth about $435,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Stock Performance

ASB opened at $25.91 on Tuesday. Associated Banc-Corp has a 52-week low of $18.32 and a 52-week high of $28.18. The firm has a market capitalization of $4.30 billion, a PE ratio of 33.65, a PEG ratio of 1.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50-day simple moving average is $25.66 and its 200 day simple moving average is $23.91.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The business had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. As a group, sell-side analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, September 2nd. Associated Banc’s dividend payout ratio is presently 119.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler upped their price objective on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Wells Fargo & Company upped their price objective on Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Truist Financial upped their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods upped their price objective on Associated Banc from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.78.

Insider Buying and Selling

In other Associated Banc news, EVP Patrick Edward Ahern sold 3,342 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the sale, the executive vice president owned 41,472 shares in the company, valued at $1,086,566.40. This represents a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew R. Braeger sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the sale, the executive vice president owned 13,346 shares in the company, valued at $351,533.64. This represents a 13.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,342 shares of company stock worth $494,360. Corporate insiders own 1.10% of the company’s stock.

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.