Heartland Advisors Inc. Has $22.57 Million Holdings in Associated Banc-Corp $ASB

Heartland Advisors Inc. grew its position in Associated Banc-Corp (NYSE:ASB) by 7.2% in the third quarter, Holdings Channel reports. The fund owned 877,828 shares of the bank’s stock after acquiring an additional 59,184 shares during the quarter. Associated Banc accounts for 1.2% of Heartland Advisors Inc.’s portfolio, making the stock its 11th largest holding. Heartland Advisors Inc.’s holdings in Associated Banc were worth $22,569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC increased its position in Associated Banc by 90.4% in the 1st quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after acquiring an additional 136,648 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after acquiring an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after purchasing an additional 60,758 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Associated Banc in the second quarter worth $328,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Up 1.0%

Associated Banc stock opened at $27.85 on Tuesday. The company has a market capitalization of $4.62 billion, a PE ratio of 10.05, a PEG ratio of 1.27 and a beta of 0.80. Associated Banc-Corp has a 12-month low of $18.32 and a 12-month high of $29.51. The firm’s fifty day moving average is $26.97 and its 200 day moving average is $26.08. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The firm had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. Associated Banc’s dividend payout ratio (DPR) is 34.66%.

Associated Banc announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 27th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on ASB shares. Barclays cut their target price on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group reissued a “buy” rating and set a $28.00 target price on shares of Associated Banc in a research report on Tuesday, December 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 23rd. Finally, Piper Sandler upped their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.20.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares of the company’s stock, valued at approximately $2,900,927.22. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Williams sold 2,325 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total value of $65,216.25. Following the sale, the director directly owned 70,959 shares of the company’s stock, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 53,007 shares of company stock valued at $1,418,613. Corporate insiders own 1.10% of the company’s stock.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.