Associated Banc-Corp (NYSE:ASB)‘s stock had its “hold” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Friday, July 21st. They currently have a $26.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 19.27% from the stock’s previous close.
ASB has been the subject of several other research reports. Royal Bank Of Canada reiterated a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research report on Friday, July 7th. Morgan Stanley reiterated an “equal weight” rating and set a $25.00 price objective (up previously from $24.00) on shares of Associated Banc-Corp in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, June 21st. BidaskClub downgraded shares of Associated Banc-Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $27.00 target price on shares of Associated Banc-Corp in a research note on Tuesday, April 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.00.
Shares of Associated Banc-Corp (NYSE:ASB) traded down 0.46% on Friday, reaching $21.80. 855,276 shares of the company’s stock traded hands. The firm’s 50-day moving average is $23.92 and its 200-day moving average is $24.59. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 15.68 and a beta of 1.16. Associated Banc-Corp has a 52-week low of $18.85 and a 52-week high of $26.70.
Associated Banc-Corp (NYSE:ASB) last issued its earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The firm had revenue of $266.23 million during the quarter, compared to analyst estimates of $273.29 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. Analysts anticipate that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.
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In related news, insider Christopher C. Piotrowski sold 16,218 shares of Associated Banc-Corp stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the sale, the insider now directly owns 30,479 shares in the company, valued at approximately $717,780.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $23.61, for a total transaction of $236,100.00. Following the sale, the chief executive officer now owns 127,585 shares of the company’s stock, valued at $3,012,281.85. The disclosure for this sale can be found here. Insiders sold a total of 38,772 shares of company stock worth $914,334 over the last 90 days. Company insiders own 1.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock valued at $118,000 after buying an additional 1,830 shares during the last quarter. Morgan Dempsey Capital Management LLC boosted its stake in shares of Associated Banc-Corp by 40.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock valued at $140,000 after buying an additional 1,597 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Associated Banc-Corp by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock valued at $149,000 after buying an additional 549 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock valued at $156,000 after buying an additional 30 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its stake in shares of Associated Banc-Corp by 73.4% in the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock valued at $200,000 after buying an additional 3,360 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Associated Banc-Corp 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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