ValuEngine Downgrades Associated Banc (ASB) to Hold

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

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley cut their price target on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 31st. Barclays reaffirmed a “hold” rating and set a $28.00 price target on shares of Associated Banc in a research report on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.00 price target on shares of Associated Banc in a research report on Sunday, January 28th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $27.00 price target on shares of Associated Banc in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $26.30.

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Shares of Associated Banc (NYSE:ASB) opened at $24.35 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. The company has a market cap of $3,845.29, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. Associated Banc has a 1 year low of $20.95 and a 1 year high of $27.20.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). The firm had revenue of $272.00 million for the quarter, compared to the consensus estimate of $281.38 million. Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. equities research analysts expect that Associated Banc will post 1.78 EPS for the current fiscal year.

In other news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $25.08, for a total transaction of $250,800.00. Following the transaction, the chief executive officer now owns 122,457 shares in the company, valued at $3,071,221.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Moral-Niles Christopher Del sold 4,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $26.59, for a total transaction of $106,360.00. The disclosure for this sale can be found here. Insiders have sold 143,018 shares of company stock worth $3,633,598 in the last quarter. Company insiders own 2.13% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ASB. Landaas & Co. WI ADV raised its holdings in shares of Associated Banc by 98.8% in the 4th quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after acquiring an additional 2,091 shares during the last quarter. QS Investors LLC raised its holdings in shares of Associated Banc by 1,369.9% in the 4th quarter. QS Investors LLC now owns 5,027 shares of the bank’s stock worth $128,000 after acquiring an additional 4,685 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Associated Banc in the 3rd quarter worth about $157,000. Savant Capital LLC acquired a new stake in shares of Associated Banc in the 4th quarter worth about $202,000. Finally, JOYN Advisors Inc. acquired a new stake in shares of Associated Banc in the 4th quarter worth about $209,000. Institutional investors own 77.51% of the company’s stock.

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Associated Banc Company Profile

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 non-banking 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.

Analyst Recommendations for Associated Banc (NYSE:ASB)

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