Piper Jaffray Companies restated their hold rating on shares of Associated Banc (NYSE:ASB) in a research note released on Tuesday, January 9th. The brokerage currently has a $27.00 target price on the bank’s stock.
Several other brokerages have also issued reports on ASB. SunTrust Banks set a $26.00 target price on shares of Associated Banc and gave the stock a hold rating in a research note on Saturday, October 21st. Zacks Investment Research downgraded Associated Banc from a buy rating to a hold rating in a report on Wednesday, November 1st. Morgan Stanley boosted their price objective on Associated Banc from $25.50 to $28.00 and gave the company an equal weight rating in a report on Wednesday, December 13th. Barclays boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the company an equal weight rating in a report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods reiterated a neutral rating on shares of Associated Banc in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $26.30.
Associated Banc (ASB) traded down $0.23 during trading hours on Tuesday, reaching $25.47. 881,584 shares of the company traded hands, compared to its average volume of 1,089,229. Associated Banc has a 52-week low of $20.95 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $3,782.94 and a price-to-earnings ratio of 17.97.
Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The business had revenue of $272.00 million during the quarter, compared to the consensus estimate of $281.38 million. During the same period in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. equities research analysts expect that Associated Banc will post 1.75 earnings per share for the current fiscal year.
In other news, insider Breck F. Hanson sold 11,373 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $24.92, for a total value of $283,415.16. Following the completion of the sale, the insider now directly owns 37,722 shares of the company’s stock, valued at approximately $940,032.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William M. Bohn sold 15,946 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $26.00, for a total value of $414,596.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,244 shares of company stock valued at $1,198,962 over the last ninety days. 1.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Associated Banc by 10.2% during the second 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 bought a new stake in shares of Associated Banc during the 3rd quarter worth about $157,000. Meeder Asset Management Inc. boosted its holdings 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 buying an additional 5,838 shares during the period. Flinton Capital Management LLC boosted its holdings 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 buying an additional 3,360 shares during the period. Finally, Savant Capital LLC bought a new stake in shares of Associated Banc during the 4th quarter worth about $202,000. 77.35% of the stock is owned by hedge funds and other institutional investors.
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Associated Banc Company Profile
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.
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