Associated Banc (NYSE:ASB)‘s stock had its “hold” rating restated by equities researchers at Barclays in a research note issued to investors on Tuesday, January 30th. They presently have a $28.00 target price on the bank’s stock. Barclays’ target price points to a potential upside of 15.46% from the company’s current price.
A number of other equities analysts have also commented on ASB. SunTrust Banks restated a “hold” rating and issued a $24.00 price objective on shares of Associated Banc in a research report on Thursday, October 12th. Jefferies Group reiterated a “hold” rating and set a $28.00 target price on shares of Associated Banc in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, October 24th. Piper Jaffray Companies reissued a “hold” rating and set a $26.00 price target on shares of Associated Banc in a research note on Sunday, January 28th. Finally, Morgan Stanley lifted their price target on shares of Associated Banc from $25.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $26.30.
Shares of Associated Banc (NYSE:ASB) traded up $0.15 during mid-day trading on Tuesday, hitting $24.25. 64,758 shares of the stock traded hands, compared to its average volume of 1,425,219. 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 quick ratio of 0.89 and a current ratio of 0.90. The stock has a market capitalization of $4,143.31, a P/E ratio of 16.85, a P/E/G ratio of 1.95 and a beta of 1.08.
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 analysts’ consensus estimates of $0.38 by ($0.07). The company had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $281.38 million. Associated Banc had a return on equity of 8.05% and a net margin of 18.80%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. equities research analysts predict that Associated Banc will post 1.76 earnings per share for the current year.
In related news, CFO Moral-Niles Christopher Del sold 11,999 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $24.72, for a total value of $296,615.28. Following the completion of the sale, the chief financial officer now directly owns 81,092 shares of the company’s stock, valued at approximately $2,004,594.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy J. Lau sold 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $24.01, for a total transaction of $240,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,644 shares of company stock worth $2,081,022. 1.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System raised its holdings in Associated Banc by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 409,934 shares of the bank’s stock valued at $9,941,000 after buying an additional 6,249 shares during the period. Vanguard Group Inc. increased its stake in Associated Banc by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock worth $321,025,000 after purchasing an additional 248,381 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Associated Banc during the third quarter valued at $677,000. Pzena Investment Management LLC increased its stake in shares of Associated Banc by 2.9% during the third quarter. Pzena Investment Management LLC now owns 2,433,590 shares of the bank’s stock valued at $59,015,000 after buying an additional 68,380 shares during the period. Finally, Foundry Partners LLC increased its stake in shares of Associated Banc by 3.3% during the third quarter. Foundry Partners LLC now owns 728,559 shares of the bank’s stock valued at $17,668,000 after buying an additional 23,204 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.
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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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