Associated Banc (NYSE:ASB) Stock Rating Upgraded by StockNews.com

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

Several other equities analysts have also issued reports on ASB. Wells Fargo & Company lifted their price target on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Barclays reduced their price objective on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Finally, Stephens reiterated an “equal weight” rating and issued a $23.00 price objective on shares of Associated Banc in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.78.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $20.57 on Tuesday. The business has a fifty day simple moving average of $21.14 and a two-hundred day simple moving average of $21.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.10 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.20 and a beta of 0.95. Associated Banc has a 12 month low of $15.16 and a 12 month high of $22.77.

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

Insider Buying and Selling at Associated Banc

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EMC Capital Management grew its stake in shares of Associated Banc by 34.6% during the 1st quarter. EMC Capital Management now owns 27,869 shares of the bank’s stock valued at $599,000 after acquiring an additional 7,162 shares during the period. Hancock Whitney Corp grew its stake 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 valued at $1,286,000 after acquiring an additional 9,687 shares during the period. Tidal Investments LLC bought a new position in shares of Associated Banc during the 1st quarter valued at approximately $866,000. Bayesian Capital Management LP bought a new position in shares of Associated Banc during the 1st quarter valued at approximately $609,000. Finally, Lazard Asset Management LLC bought a new position in shares of Associated Banc during the 1st quarter valued at approximately $350,000. 82.98% of the stock is currently owned by institutional investors.

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.