Associated Banc (NYSE:ASB) Earns Equal Weight Rating from Stephens

Stephens reiterated their equal weight rating on shares of Associated Banc (NYSE:ASB) in a research report released on Friday, Benzinga reports. The brokerage currently has a $23.00 price objective on the bank’s stock.

A number of other equities analysts have also recently issued reports on ASB. Wells Fargo & Company increased their price objective on shares of Associated Banc from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, April 10th. Royal Bank of Canada reissued a sector perform rating and issued a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Raymond James lifted their price objective on Associated Banc from $21.00 to $25.00 and gave the company an outperform rating in a report on Monday, January 29th. Barclays increased their target price on Associated Banc from $22.00 to $24.00 and gave the stock an equal weight rating in a report on Friday. Finally, Piper Sandler raised their target price on Associated Banc from $21.50 to $23.00 and gave the stock a neutral rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Associated Banc currently has a consensus rating of Hold and a consensus price target of $23.13.

Associated Banc Trading Up 0.1 %

Shares of ASB opened at $21.59 on Friday. The stock’s 50-day moving average price is $20.80 and its 200 day moving average price is $19.83. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.27 and a beta of 1.00. Associated Banc has a 12-month low of $14.47 and a 12-month high of $22.16.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. Associated Banc’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, research analysts predict that Associated Banc will post 2.13 earnings per share for the current year.

Insider Activity

In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now owns 89,880 shares of the company’s stock, valued at $1,905,456. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the sale, the director now owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares in the company, valued at approximately $1,905,456. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,710 shares of company stock worth $454,897. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Associated Banc by 64.0% in the third quarter. SG Americas Securities LLC now owns 90,428 shares of the bank’s stock valued at $1,547,000 after acquiring an additional 35,279 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Associated Banc by 10.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 35,226 shares of the bank’s stock worth $603,000 after purchasing an additional 3,451 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Associated Banc by 15.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,284 shares of the bank’s stock valued at $518,000 after purchasing an additional 3,947 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Associated Banc by 14.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,227 shares of the bank’s stock valued at $1,270,000 after purchasing an additional 9,363 shares during the last quarter. Finally, Advisor Partners II LLC grew its position in shares of Associated Banc by 97.2% during the 3rd quarter. Advisor Partners II LLC now owns 20,568 shares of the bank’s stock worth $352,000 after buying an additional 10,140 shares during the period. 82.98% 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 in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.