Associated Banc (NYSE:ASB) Stock Rating Lowered by Zacks Research

Associated Banc (NYSE:ASB) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. Piper Sandler upped their target price on Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Truist Financial cut their target price on Associated Banc from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. Stephens upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $30.00 to $29.00 in a research report on Friday, March 27th. Keefe, Bruyette & Woods upped their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada upped their target price on Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.60.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $26.39 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average price is $26.56 and its two-hundred day moving average price is $26.14. Associated Banc has a one year low of $18.32 and a one year high of $29.51. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 1.21 and a beta of 0.77.

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

Associated Banc announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the bank to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Associated Banc news, Director Eileen A. Kamerick sold 6,600 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $28.02, for a total value of $184,932.00. Following the completion of the transaction, the director directly owned 49,264 shares in the company, valued at approximately $1,380,377.28. This trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick Edward Ahern sold 14,731 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total value of $427,640.93. Following the completion of the transaction, the executive vice president owned 39,401 shares of the company’s stock, valued at $1,143,811.03. This represents a 27.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,656 shares of company stock worth $677,789 in the last ninety days. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Associated Banc

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in Associated Banc by 0.3% in the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after purchasing an additional 394 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. US Bancorp DE raised its position in Associated Banc by 0.5% in the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after purchasing an additional 415 shares during the last quarter. LPL Financial LLC raised its position in Associated Banc by 2.3% in the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after purchasing an additional 426 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after purchasing an additional 549 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

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.