Associated Banc (NYSE:ASB) Rating Increased to Hold at StockNews.com

Associated Banc (NYSE:ASB) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

ASB has been the subject of several other research reports. Barclays increased their price target on shares of Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wells Fargo & Company raised 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 report on Wednesday, April 10th. Stephens reiterated an “equal weight” rating and set a $23.00 target price on shares of Associated Banc in a research report on Friday, April 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s 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 Stock Down 0.2 %

ASB opened at $20.58 on Thursday. The business has a 50 day moving average price of $21.28 and a 200 day moving average price of $20.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. Associated Banc has a twelve month low of $15.16 and a twelve month high of $22.77. The firm has a market cap of $3.10 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $322.84 million during 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%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. Research analysts forecast that Associated Banc will post 2.11 EPS for the current year.

Insider Activity at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 2,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $22.18, for a total value of $55,450.00. Following the completion of the transaction, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nicole M. Kitowski sold 5,019 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total value of $106,553.37. Following the sale, the executive vice president now directly owns 37,993 shares in the company, valued at $806,591.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John A. Utz sold 2,500 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Large investors have recently bought and sold shares of the company. EMC Capital Management increased its stake in Associated Banc by 34.6% in the 1st quarter. EMC Capital Management now owns 27,869 shares of the bank’s stock valued at $599,000 after buying an additional 7,162 shares during the last quarter. Hancock Whitney Corp increased its position in shares of Associated Banc by 19.3% during the 1st quarter. Hancock Whitney Corp now owns 59,769 shares of the bank’s stock worth $1,286,000 after purchasing an additional 9,687 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Associated Banc during the 1st quarter worth approximately $866,000. Bayesian Capital Management LP acquired a new stake in shares of Associated Banc in the 1st quarter valued at approximately $609,000. Finally, Lazard Asset Management LLC bought a new position in shares of Associated Banc in the first quarter valued at $350,000. 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.