Associated Banc’s (ASB) Equal Weight Rating Reiterated at Stephens

Associated Banc (NYSE:ASB)‘s stock had its “equal weight” rating restated by Stephens in a research note issued on Friday, Benzinga reports. They currently have a $23.00 target price on the bank’s stock. Stephens’ price objective suggests a potential upside of 5.46% from the stock’s current price.

Several other equities research analysts also recently commented on ASB. Raymond James boosted their target price on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Wells Fargo & Company boosted their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Barclays boosted their target price on Associated Banc from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday. Piper Sandler boosted their target price on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Associated Banc has a consensus rating of “Hold” and an average price target of $23.13.

Associated Banc Trading Up 2.1 %

Shares of ASB stock traded up $0.44 during trading hours on Friday, reaching $21.81. The company’s stock had a trading volume of 1,020,934 shares, compared to its average volume of 1,426,675. The stock has a market capitalization of $3.28 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.25 and a beta of 1.00. Associated Banc has a one year low of $14.47 and a one year high of $22.16. The firm’s fifty day simple moving average is $20.78 and its 200 day simple moving average is $19.74. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $322.84 million for the quarter, compared to analyst estimates of $325.00 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Equities research analysts expect that Associated Banc will post 2.13 EPS for the current year.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares in the company, valued at $1,905,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, the director now owns 50,126 shares in the company, valued at $1,053,648.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the transaction, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,710 shares of company stock worth $454,897. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Associated Banc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steph & Co. boosted its stake in Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after buying an additional 964 shares during the last quarter. Creekmur Asset Management LLC bought a new position in Associated Banc during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new position in Associated Banc during the third quarter valued at approximately $29,000. Parallel Advisors LLC boosted its stake in Associated Banc by 64.0% during the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Associated Banc by 183.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock valued at $61,000 after buying an additional 1,850 shares during the last quarter. 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.