Associated Banc-Corp (NYSE:ASB) Given Hold Rating at Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of Associated Banc-Corp (NYSE:ASB) in a research report report published on Friday morning. They currently have a $27.00 price target on the bank’s stock.
Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Associated Banc-Corp from a sell rating to a hold rating in a research note on Thursday, July 6th. Morgan Stanley reaffirmed an equal weight rating and issued a $25.00 target price (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Associated Banc-Corp from a hold rating to a buy rating and set a $28.00 target price on the stock in a research note on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a hold rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 7th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $24.00 target price on shares of Associated Banc-Corp in a research note on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $24.86.
Associated Banc-Corp (NYSE ASB) traded down 0.60% during midday trading on Friday, hitting $24.85. 468,602 shares of the stock traded hands. Associated Banc-Corp has a 1-year low of $17.52 and a 1-year high of $26.70. The stock has a market cap of $3.76 billion, a PE ratio of 18.54 and a beta of 1.17. The company has a 50-day moving average of $24.56 and a 200-day moving average of $24.85.
Associated Banc-Corp (NYSE:ASB) last issued its earnings results on Thursday, April 20th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $260.11 million for the quarter, compared to analyst estimates of $266.24 million. Associated Banc-Corp had a net margin of 18.36% and a return on equity of 7.20%. During the same quarter last year, the firm earned $0.27 EPS. On average, equities analysts expect that Associated Banc-Corp will post $1.45 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Associated Banc-Corp (NYSE:ASB) Given Hold Rating at Jefferies Group LLC” was published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/07/17/associated-banc-corp-nyseasb-given-hold-rating-at-jefferies-group-llc.html.
In related news, insider David L. Stein sold 8,000 shares of Associated Banc-Corp stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $25.11, for a total transaction of $200,880.00. Following the transaction, the insider now owns 37,518 shares of the company’s stock, valued at approximately $942,076.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $24.81, for a total transaction of $248,100.00. Following the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at approximately $3,165,383.85. The disclosure for this sale can be found here. Insiders have sold a total of 20,330 shares of company stock worth $508,302 in the last three months. 1.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Associated Banc-Corp during the fourth quarter valued at $2,175,000. Tudor Investment Corp Et Al bought a new position in shares of Associated Banc-Corp during the fourth quarter worth $304,000. Guggenheim Capital LLC raised its position in shares of Associated Banc-Corp by 54.6% in the fourth quarter. Guggenheim Capital LLC now owns 122,227 shares of the bank’s stock worth $3,019,000 after buying an additional 43,185 shares during the last quarter. Norges Bank bought a new position in shares of Associated Banc-Corp during the fourth quarter worth $50,013,000. Finally, Teachers Advisors LLC raised its position in shares of Associated Banc-Corp by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 168,834 shares of the bank’s stock worth $4,170,000 after buying an additional 8,130 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.
Associated Banc-Corp 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.
Receive News & Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related companies with MarketBeat.com's FREE daily email newsletter.