Jefferies Financial Group reaffirmed their hold rating on shares of Associated Banc (NYSE:ASB) in a research report released on Friday. Jefferies Financial Group currently has a $30.00 target price on the bank’s stock. Jefferies Financial Group also issued estimates for Associated Banc’s FY2019 earnings at $2.20 EPS.
Several other research analysts have also weighed in on ASB. Robert W. Baird reaffirmed a buy rating and set a $30.00 target price on shares of Associated Banc in a research note on Tuesday, July 10th. Zacks Investment Research raised shares of Associated Banc from a hold rating to a strong-buy rating and set a $31.00 target price for the company in a research note on Tuesday, May 1st. DA Davidson increased their target price on shares of Associated Banc from $25.00 to $26.00 and gave the stock a neutral rating in a research note on Friday, April 20th. Sandler O’Neill raised shares of Associated Banc from a hold rating to a buy rating in a research note on Friday, April 20th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $28.00 target price on shares of Associated Banc in a research note on Friday, April 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $28.10.
Associated Banc traded down $0.15, hitting $27.90, during mid-day trading on Friday, MarketBeat reports. 2,810,568 shares of the company were exchanged, compared to its average volume of 1,005,614. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $4.79 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. Associated Banc has a 12-month low of $20.95 and a 12-month high of $29.02.
Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 19th. The bank reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The company had revenue of $319.20 million during the quarter, compared to analyst estimates of $316.63 million. Associated Banc had a net margin of 20.00% and a return on equity of 9.37%. During the same quarter last year, the firm posted $0.36 earnings per share. sell-side analysts anticipate that Associated Banc will post 1.98 EPS for the current fiscal year.
In other news, EVP Nicole M. Kitowski sold 3,584 shares of the firm’s stock in a transaction that occurred on Wednesday, April 25th. The shares were sold at an average price of $26.58, for a total value of $95,262.72. Following the completion of the transaction, the executive vice president now owns 15,440 shares of the company’s stock, valued at $410,395.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Judith M. Docter sold 35,679 shares of the firm’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $26.50, for a total transaction of $945,493.50. Following the completion of the transaction, the insider now directly owns 44,332 shares of the company’s stock, valued at approximately $1,174,798. The disclosure for this sale can be found here. In the last three months, insiders sold 75,049 shares of company stock valued at $2,008,563. Insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ASB. BlackRock Inc. raised its holdings in Associated Banc by 17.0% in the first quarter. BlackRock Inc. now owns 14,958,614 shares of the bank’s stock valued at $371,721,000 after acquiring an additional 2,172,022 shares in the last quarter. Millennium Management LLC raised its holdings in Associated Banc by 174.0% in the first quarter. Millennium Management LLC now owns 2,615,197 shares of the bank’s stock valued at $64,988,000 after acquiring an additional 1,660,733 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Associated Banc by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 11,850,419 shares of the bank’s stock valued at $294,483,000 after acquiring an additional 1,088,186 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Associated Banc during the first quarter worth approximately $8,061,000. Finally, Natixis acquired a new stake in Associated Banc during the first quarter worth approximately $6,916,000. 76.49% of the stock is owned by institutional investors and hedge funds.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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