Associated Banc-Corp (NYSE:ASB) Rating Reiterated by Jefferies Group LLC

Associated Banc-Corp (NYSE:ASB)‘s stock had its “hold” rating reissued by Jefferies Group LLC in a report released on Friday. They presently have a $27.00 target price on the bank’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 21.35% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and issued a $25.00 target price (up from $24.00) on shares of Associated Banc-Corp in a research report on Thursday, July 6th. BidaskClub upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Piper Jaffray Companies set a $25.00 target price on shares of Associated Banc-Corp and gave the company a “hold” rating in a research report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.00.

Shares of Associated Banc-Corp (NYSE:ASB) opened at 22.25 on Friday. The company has a market capitalization of $3.37 billion, a PE ratio of 16.01 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. The firm’s 50-day moving average is $24.25 and its 200 day moving average is $24.71.

Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The business had revenue of $266.23 million during the quarter, compared to analysts’ expectations of $273.29 million. During the same quarter in the previous year, the company earned $0.31 EPS. On average, analysts anticipate that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.

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In related news, Director Eileen A. Kamerick sold 4,500 shares of Associated Banc-Corp stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.57, for a total transaction of $106,065.00. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $636,484.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $381,933.90. Following the sale, the insider now directly owns 30,479 shares in the company, valued at $717,780.45. The disclosure for this sale can be found here. Insiders have sold a total of 38,772 shares of company stock worth $914,334 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised 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 period. Morgan Dempsey Capital Management LLC raised 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 period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 period. Chicago Partners Investment Group LLC raised 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 period. Finally, Nomura Holdings Inc. bought a new stake in shares of Associated Banc-Corp during the first quarter valued at about $210,000. 78.54% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Associated Banc-Corp (NYSE:ASB)

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