Associated Banc (NYSE:ASB) Earns “Hold (C)” Rating from Weiss Ratings

Associated Banc (NYSE:ASB)‘s stock had its “hold (c)” rating restated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

ASB has been the subject of a number of other research reports. Truist Financial increased their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Wells Fargo & Company boosted their target price on Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Friday, July 25th. Piper Sandler lifted their price objective on Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Barclays lifted their price objective on Associated Banc from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.00.

Associated Banc Price Performance

Shares of ASB stock opened at $26.22 on Wednesday. The stock’s fifty day simple moving average is $25.77 and its 200 day simple moving average is $24.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 1.00 and a beta of 0.82. Associated Banc has a one year low of $18.32 and a one year high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter in the previous year, the firm earned $0.52 EPS. On average, analysts expect that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John A. Utz sold 13,000 shares of Associated Banc stock in a transaction on Friday, August 29th. The stock was sold at an average price of $27.24, for a total value of $354,120.00. Following the completion of the sale, the executive vice president directly owned 111,228 shares of the company’s stock, valued at approximately $3,029,850.72. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Edward Ahern sold 3,342 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the transaction, the executive vice president owned 41,472 shares in the company, valued at approximately $1,086,566.40. This represents a 7.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,342 shares of company stock valued at $494,360. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

A number of institutional investors have recently bought and sold shares of ASB. Norges Bank acquired a new stake in Associated Banc during the 2nd quarter worth $48,373,000. Goldman Sachs Group Inc. boosted its position in shares of Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after purchasing an additional 1,598,951 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Associated Banc by 200.3% in the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock worth $42,853,000 after purchasing an additional 1,287,458 shares during the last quarter. Nuveen LLC bought a new position in shares of Associated Banc in the 1st quarter worth $23,510,000. Finally, Invesco Ltd. lifted its stake in Associated Banc by 83.2% in the first quarter. Invesco Ltd. now owns 1,308,946 shares of the bank’s stock valued at $29,491,000 after buying an additional 594,361 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

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.