Associated Banc (NYSE:ASB) Upgraded to “Hold” at StockNews.com

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

Other equities research analysts have also recently issued reports about the company. Robert W. Baird reduced their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Piper Sandler upped their target price on 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 upped their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Baird R W lowered Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.89.

Associated Banc Stock Up 2.1 %

ASB opened at $24.06 on Thursday. Associated Banc has a 1-year low of $15.94 and a 1-year high of $24.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 1.66 and a beta of 0.93. The business has a 50 day moving average of $21.88 and a 200-day moving average of $21.52.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The company had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Associated Banc will post 2.06 earnings per share for the current year.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares in the company, valued at $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lith Karen Van sold 8,061 shares of the stock in a transaction 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 sale, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Large investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in shares of Associated Banc during the first quarter worth $866,000. State Board of Administration of Florida Retirement System grew its holdings in shares of Associated Banc by 71.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock worth $1,591,000 after purchasing an additional 30,732 shares during the last quarter. M&G Plc boosted its holdings in Associated Banc by 12.4% in the second quarter. M&G Plc now owns 411,761 shares of the bank’s stock valued at $8,647,000 after acquiring an additional 45,542 shares during the last quarter. Bayesian Capital Management LP bought a new position in Associated Banc in the first quarter valued at about $609,000. Finally, SG Americas Securities LLC bought a new position in Associated Banc in the first quarter valued at about $523,000. Institutional investors 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.