Associated Banc (NYSE:ASB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Associated Banc (NYSE:ASB) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other analysts have also recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Associated Banc in a research report on Monday, December 29th. Piper Sandler lifted their price target on Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods upped their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday. UBS Group reissued a “buy” rating and issued a $28.00 price objective on shares of Associated Banc in a report on Tuesday, December 2nd. Finally, Truist Financial boosted their target price on shares of Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $29.20.

Associated Banc Trading Up 1.9%

ASB opened at $26.94 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $26.28 and a 200 day moving average of $25.80. The firm has a market cap of $4.47 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.73 and a beta of 0.79. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.02.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $393.52 million for the quarter, compared to analysts’ expectations of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts forecast that Associated Banc will post 2.43 EPS for the current year.

Insider Activity at Associated Banc

In other news, EVP Patrick Edward Ahern sold 30,489 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the transaction, the executive vice president directly owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This represents a 55.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total value of $56,385.35. Following the sale, the executive vice president directly owned 109,842 shares in the company, valued at $2,900,927.22. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,951 shares of company stock valued at $925,756 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Associated Banc

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Associated Banc by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,151,111 shares of the bank’s stock worth $101,256,000 after acquiring an additional 67,219 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Associated Banc by 32.5% in the third quarter. American Century Companies Inc. now owns 2,629,549 shares of the bank’s stock valued at $67,606,000 after purchasing an additional 645,676 shares in the last quarter. First Trust Advisors LP grew its position in shares of Associated Banc by 679.4% in the third quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock valued at $57,171,000 after purchasing an additional 1,938,393 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Associated Banc in the second quarter valued at approximately $48,373,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.