Heck Capital Advisors LLC Invests $332,000 in Associated Banc-Corp $ASB

Key Points

• Heck Capital Advisors LLC has invested $332,000 in Associated Banc-Corp by acquiring 13,612 shares of the bank's stock during the second quarter.
• Notably, insider selling occurred with EVP John A. Utz selling 13,000 shares valued at $354,120, which represents a 10.46% decrease in his ownership.
• The company declared a quarterly dividend of $0.23 per share, reflecting an annual yield of 3.5% and a dividend payout ratio of 119.48%.

Heck Capital Advisors LLC acquired a new position in shares of Associated Banc-Corp (NYSE:ASB - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 13,612 shares of the bank's stock, valued at approximately $332,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its stake in Associated Banc by 77.7% in the first quarter. Quarry LP now owns 1,907 shares of the bank's stock valued at $43,000 after buying an additional 834 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Associated Banc by 17.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank's stock worth $83,000 after purchasing an additional 559 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank's stock worth $90,000 after purchasing an additional 1,122 shares in the last quarter. GAMMA Investing LLC grew its position in Associated Banc by 11.6% during the 1st quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock worth $118,000 after purchasing an additional 547 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in Associated Banc by 111,480.0% during the 1st quarter. NBC Securities Inc. now owns 5,579 shares of the bank's stock valued at $125,000 after purchasing an additional 5,574 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 13,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $27.24, for a total value of $354,120.00. Following the completion of the transaction, the executive vice president owned 111,228 shares in the company, valued at approximately $3,029,850.72. This represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick Edward Ahern sold 3,342 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were 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 trade represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,342 shares of company stock valued at $494,360. Corporate insiders own 1.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of Associated Banc from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Truist Financial lifted their price target on Associated Banc from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods increased their price objective on Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Finally, Robert W. Baird upped their target price on Associated Banc from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.78.

Associated Banc Stock Up 2.4%

Shares of ASB opened at $26.62 on Tuesday. The stock's 50-day moving average price is $25.70 and its 200-day moving average price is $24.03. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.00 and a beta of 0.82. Associated Banc-Corp has a 52 week low of $18.32 and a 52 week high of $28.18.

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

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 2nd. Associated Banc's dividend payout ratio (DPR) is currently 119.48%.

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.

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