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

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

ASB has been the subject of a number of other reports. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Associated Banc in a research report on Friday, January 24th. Barclays upped their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price objective on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Wells Fargo & Company upped their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods increased their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Associated Banc Trading Up 1.7 %

Shares of ASB stock opened at $25.15 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. Associated Banc has a fifty-two week low of $19.40 and a fifty-two week high of $28.18. The company has a market cap of $3.80 billion, a PE ratio of 20.95, a P/E/G ratio of 2.07 and a beta of 0.94. The stock’s fifty day moving average price is $25.09 and its two-hundred day moving average price is $23.50.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. Equities analysts predict that Associated Banc will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Associated Banc by 315.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 540,057 shares of the bank’s stock worth $12,907,000 after purchasing an additional 410,118 shares in the last quarter. Verition Fund Management LLC raised its holdings in Associated Banc by 11.2% during the third quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock worth $65,401,000 after buying an additional 305,133 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Associated Banc in the third quarter valued at $6,082,000. State Street Corp grew its holdings in shares of Associated Banc by 3.3% during the third quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock valued at $177,282,000 after buying an additional 261,877 shares during the last quarter. Finally, NFJ Investment Group LLC bought a new stake in shares of Associated Banc during the third quarter worth about $3,245,000. 82.98% of the stock is 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.