Associated Banc (ASB) PT Raised to $28.00 at Morgan Stanley

Associated Banc (NYSE:ASB) had its price objective increased by research analysts at Morgan Stanley from $25.50 to $28.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price target suggests a potential upside of 12.22% from the company’s current price.

Several other equities research analysts have also recently commented on ASB. Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.00 price target on shares of Associated Banc in a research report on Tuesday, August 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 target price on shares of Associated Banc in a report on Friday, August 25th. ValuEngine cut shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Friday, September 1st. DA Davidson raised shares of Associated Banc from an “underperform” rating to a “neutral” rating and set a $21.00 target price on the stock in a report on Wednesday, September 6th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $28.00 target price on shares of Associated Banc in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $26.18.

Shares of Associated Banc (NYSE ASB) traded down $0.15 during trading hours on Wednesday, reaching $24.95. 965,500 shares of the company’s stock traded hands, compared to its average volume of 903,497. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.03. Associated Banc has a 52-week low of $20.95 and a 52-week high of $26.70. The company has a market cap of $3,794.24, a PE ratio of 17.19, a PEG ratio of 2.39 and a beta of 1.19.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. The firm had revenue of $276.02 million for the quarter, compared to analysts’ expectations of $276.88 million. During the same period in the previous year, the firm posted $0.31 EPS. research analysts expect that Associated Banc will post 1.5 EPS for the current year.

In related news, Director William R. Hutchinson sold 4,632 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $25.70, for a total value of $119,042.40. Following the transaction, the director now owns 91,209 shares in the company, valued at approximately $2,344,071.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William M. Bohn sold 15,946 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $26.00, for a total transaction of $414,596.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,426 shares of company stock worth $1,558,805. 1.80% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Associated Banc by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after purchasing an additional 549 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Associated Banc during the 3rd quarter worth approximately $157,000. Meeder Asset Management Inc. grew its position in shares of Associated Banc by 393.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after purchasing an additional 5,838 shares in the last quarter. Flinton Capital Management LLC grew its position in shares of Associated Banc by 73.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after purchasing an additional 3,360 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in shares of Associated Banc by 73.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock worth $223,000 after purchasing an additional 3,754 shares in the last quarter. Hedge funds and other institutional investors own 77.45% of the company’s stock.

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About Associated Banc

Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.

Analyst Recommendations for Associated Banc (NYSE:ASB)

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