Associated Banc-Corp (NYSE:ASB) had its price objective raised by Deutsche Bank AG from $20.00 to $22.00 in a research report sent to investors on Tuesday morning. They currently have a buy rating on the stock.
ASB has been the topic of several other reports. Zacks Investment Research upgraded Associated Banc-Corp from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research note on Tuesday, September 13th. DA Davidson initiated coverage on Associated Banc-Corp in a research note on Monday, October 3rd. They issued an underperform rating and a $18.00 price objective on the stock. Jefferies Group restated a buy rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Finally, Barclays PLC increased their price target on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an equal weight rating in a research report on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Associated Banc-Corp currently has an average rating of Hold and an average target price of $19.63.
Associated Banc-Corp (NYSE:ASB) opened at 19.25 on Tuesday. The company has a 50 day moving average price of $19.54 and a 200-day moving average price of $18.42. Associated Banc-Corp has a one year low of $15.45 and a one year high of $20.90. The firm has a market capitalization of $2.86 billion, a PE ratio of 16.59 and a beta of 1.32.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%. On average, equities analysts predict that Associated Banc-Corp will post $1.23 EPS for the current year.
In other Associated Banc-Corp news, insider Judith M. Docter sold 8,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $18.66, for a total transaction of $149,280.00. Following the transaction, the insider now owns 43,608 shares of the company’s stock, valued at approximately $813,725.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Moral-Niles Christopher Del sold 8,052 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $18.55, for a total value of $149,364.60. Following the transaction, the chief financial officer now directly owns 79,644 shares in the company, valued at approximately $1,477,396.20. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position in Associated Banc-Corp by 0.7% in the second quarter. Chicago Partners Investment Group LLC now owns 6,304 shares of the company’s stock valued at $108,000 after buying an additional 41 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Associated Banc-Corp during the first quarter valued at about $183,000. LS Investment Advisors LLC increased its position in Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock valued at $203,000 after buying an additional 3,889 shares in the last quarter. Calvert Investment Management Inc. increased its position in Associated Banc-Corp by 1.5% in the second quarter. Calvert Investment Management Inc. now owns 12,014 shares of the company’s stock valued at $206,000 after buying an additional 179 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Associated Banc-Corp during the third quarter valued at about $212,000. 74.26% of the stock is currently owned by hedge funds and other institutional investors.
About Associated Banc-Corp
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 nonbanking 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.
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