Associated Banc-Corp (ASB) Rating Reiterated by Keefe, Bruyette & Woods
Associated Banc-Corp (NYSE:ASB)‘s stock had its “neutral” rating reissued by Keefe, Bruyette & Woods in a report released on Friday.
A number of other research firms have also recently commented on ASB. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 7th. BidaskClub raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “hold” rating and issued a $27.00 target price on shares of Associated Banc-Corp in a research note on Sunday, June 11th. Morgan Stanley reissued 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. Finally, Zacks Investment Research cut Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.25.
Associated Banc-Corp (NYSE ASB) opened at 23.50 on Friday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 16.91 and a beta of 1.17. The stock’s 50 day moving average price is $22.44 and its 200-day moving average price is $24.03. Associated Banc-Corp has a one year low of $18.85 and a one year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $266.23 million for the quarter, compared to analysts’ expectations of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts expect that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.
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In other news, insider John A. Utz sold 8,054 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $23.62, for a total transaction of $190,235.48. Following the transaction, the insider now directly owns 44,405 shares of the company’s stock, valued at $1,048,846.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $23.61, for a total value of $236,100.00. Following the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at $3,012,281.85. The disclosure for this sale can be found here. Insiders have sold 38,772 shares of company stock worth $914,334 over the last ninety days. Insiders own 1.80% of the company’s stock.
Several large investors have recently made changes to their positions in ASB. Great West Life Assurance Co. Can grew its stake in shares of Associated Banc-Corp by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 91,071 shares of the bank’s stock valued at $2,222,000 after buying an additional 5,133 shares during the last quarter. Suntrust Banks Inc. grew its stake in shares of Associated Banc-Corp by 2.9% during the first quarter. Suntrust Banks Inc. now owns 19,513 shares of the bank’s stock valued at $476,000 after buying an additional 554 shares during the last quarter. Comerica Bank grew its stake in shares of Associated Banc-Corp by 6.6% during the first quarter. Comerica Bank now owns 117,486 shares of the bank’s stock valued at $2,967,000 after buying an additional 7,309 shares during the last quarter. Swiss National Bank grew its stake in shares of Associated Banc-Corp by 0.8% in the first quarter. Swiss National Bank now owns 247,900 shares of the bank’s stock worth $6,049,000 after purchasing an additional 1,900 shares during the last quarter. Finally, World Asset Management Inc grew its stake in shares of Associated Banc-Corp by 3.5% in the first quarter. World Asset Management Inc now owns 9,393 shares of the bank’s stock worth $229,000 after purchasing an additional 317 shares during the last quarter. 77.47% 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 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.
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