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

Associated Banc (NYSE:ASB) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Piper Sandler raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Robert W. Baird reduced their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.78.

Associated Banc Trading Up 1.0 %

NYSE:ASB opened at $22.68 on Wednesday. The company has a market cap of $3.42 billion, a PE ratio of 22.91, a P/E/G ratio of 1.66 and a beta of 0.93. The business’s 50 day moving average is $21.76 and its two-hundred day moving average is $21.45. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc has a 52 week low of $15.20 and a 52 week high of $24.21.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. Associated Banc’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, analysts predict that Associated Banc will post 2.06 EPS for the current year.

Insider Activity

In related news, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lith Karen Van sold 8,061 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares in the company, valued at approximately $1,108,254.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,835 shares of company stock worth $757,214 over the last quarter. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Associated Banc by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock worth $334,522,000 after acquiring an additional 184,813 shares during the last quarter. LSV Asset Management lifted its position in shares of Associated Banc by 43.3% during the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock worth $87,133,000 after purchasing an additional 1,224,216 shares during the last quarter. Millennium Management LLC grew its holdings in Associated Banc by 291.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after buying an additional 1,163,807 shares during the last quarter. Point72 Asset Management L.P. increased its position in Associated Banc by 12.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock worth $24,309,000 after buying an additional 123,271 shares during the period. Finally, Interval Partners LP lifted its holdings in shares of Associated Banc by 27.6% during the second quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock worth $9,368,000 after buying an additional 95,928 shares during the last quarter. 82.98% 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. 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.