Heck Capital Advisors LLC Takes $343,000 Position in Associated Banc-Corp (NYSE:ASB)

Heck Capital Advisors LLC purchased a new position in Associated Banc-Corp (NYSE:ASB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,336 shares of the bank’s stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors have also modified their holdings of ASB. State Street Corp increased its position in Associated Banc by 3.3% in the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after purchasing an additional 261,877 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Associated Banc by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock valued at $77,219,000 after buying an additional 79,658 shares in the last quarter. Verition Fund Management LLC increased its holdings in Associated Banc by 11.2% in the third quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock worth $65,401,000 after buying an additional 305,133 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Associated Banc by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock valued at $46,034,000 after acquiring an additional 17,425 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Associated Banc by 6.2% in the third quarter. Victory Capital Management Inc. now owns 592,472 shares of the bank’s stock valued at $12,762,000 after acquiring an additional 34,824 shares during the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $25.15 on Friday. Associated Banc-Corp has a 12 month low of $19.40 and a 12 month high of $28.18. The company has a market cap of $3.80 billion, a P/E ratio of 31.84, a P/E/G ratio of 1.99 and a beta of 0.94. The business’s 50 day moving average is $25.05 and its two-hundred day moving average is $23.52. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, equities analysts expect that Associated Banc-Corp will post 2.33 EPS for the current year.

Associated Banc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, March 3rd. Associated Banc’s payout ratio is presently 116.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ASB. Stephens restated an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a report on Friday, January 24th. Barclays raised their target price on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their price objective on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Finally, Robert W. Baird decreased their target price on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, Associated Banc presently has an average rating of “Hold” and a consensus price target of $27.00.

Insider Buying and Selling

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. This trade represents a 26.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.45% of the stock is owned by company insiders.

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.