Associated Banc (NYSE:ASB) announced its quarterly earnings results on Wednesday. The bank reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09, MarketWatch Earnings reports. Associated Banc had a net margin of 20.66% and a return on equity of 5.68%.
Shares of NYSE:ASB traded up $0.15 during midday trading on Friday, reaching $19.32. The company’s stock had a trading volume of 822,873 shares, compared to its average volume of 1,140,379. The firm has a market capitalization of $2.97 billion, a PE ratio of 10.17, a P/E/G ratio of 2.05 and a beta of 1.23. Associated Banc has a twelve month low of $10.23 and a twelve month high of $21.49. The stock has a fifty day moving average of $17.75 and a 200 day moving average of $14.79. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.
In other news, insider Tammy C. Stadler sold 7,000 shares of the stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $16.35, for a total value of $114,450.00. Following the sale, the insider now owns 46,731 shares in the company, valued at $764,051.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.38% of the stock is owned by corporate insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Associated Banc from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research report on Tuesday, December 22nd. TheStreet raised shares of Associated Banc from a “c+” rating to a “b” rating in a research report on Thursday, November 19th. Bank of America increased their target price on shares of Associated Banc from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $18.00 in a report on Thursday, October 8th. Finally, Piper Sandler decreased their price target on shares of Associated Banc from $14.50 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, September 29th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $16.13.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses 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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