Stephens set a $22.00 price objective on Associated Banc (NYSE:ASB) in a research report released on Friday, TipRanks reports. The firm currently has a hold rating on the bank’s stock.
ASB has been the topic of several other reports. ValuEngine upgraded shares of Associated Banc from a sell rating to a hold rating in a report on Wednesday, October 2nd. SunTrust Banks set a $22.00 target price on shares of Associated Banc and gave the stock a hold rating in a report on Monday, September 9th. Royal Bank of Canada set a $23.00 target price on shares of Associated Banc and gave the stock a hold rating in a report on Friday, July 26th. Finally, Bank of America set a $19.00 target price on shares of Associated Banc and gave the stock a sell rating in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $23.00.
NYSE ASB traded up $0.24 during trading hours on Friday, hitting $20.47. The company’s stock had a trading volume of 1,093,858 shares, compared to its average volume of 1,108,841. The stock has a fifty day moving average of $20.04 and a 200 day moving average of $20.79. Associated Banc has a twelve month low of $18.52 and a twelve month high of $23.84. The firm has a market capitalization of $3.29 billion, a P/E ratio of 10.08, a PEG ratio of 1.33 and a beta of 1.20. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Associated Banc had a net margin of 21.73% and a return on equity of 9.76%. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $312.55 million. During the same period in the prior year, the business posted $0.48 earnings per share. Associated Banc’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Associated Banc will post 1.91 earnings per share for the current year.
In other news, EVP John A. Utz sold 3,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $20.04, for a total transaction of $60,120.00. Following the completion of the sale, the executive vice president now owns 59,348 shares of the company’s stock, valued at $1,189,333.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 2,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $26.50, for a total transaction of $53,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,698 shares of company stock worth $422,887. Company insiders own 2.69% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in shares of Associated Banc during the second quarter worth $67,000. Avestar Capital LLC bought a new stake in shares of Associated Banc during the second quarter worth $150,000. Convergence Investment Partners LLC bought a new stake in shares of Associated Banc during the third quarter worth $163,000. Neo Ivy Capital Management bought a new stake in shares of Associated Banc during the second quarter worth $181,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Associated Banc during the second quarter worth $201,000. 73.44% of the stock is owned by institutional investors.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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