Associated Banc-Corp’s (ASB) “Neutral” Rating Reiterated at Keefe, Bruyette & Woods
Associated Banc-Corp (NYSE:ASB)‘s stock had its “neutral” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research report issued on Friday.
ASB has been the subject of several other reports. BidaskClub lowered Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 30th. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 price target on shares of Associated Banc-Corp in a research report on Friday, July 7th. Piper Jaffray Companies set a $25.00 price target on Associated Banc-Corp and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Zacks Investment Research raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $25.00 price target on shares of Associated Banc-Corp in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.25.
Associated Banc-Corp (ASB) traded down 0.21% during trading on Friday, reaching $23.50. The company’s stock had a trading volume of 635,381 shares. Associated Banc-Corp has a 12-month low of $18.85 and a 12-month high of $26.70. The company has a market capitalization of $3.56 billion, a P/E ratio of 16.91 and a beta of 1.17. The firm’s 50-day moving average price is $22.44 and its 200 day moving average price is $24.03.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $266.23 million during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.31 EPS. On average, analysts predict that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.
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In related news, insider Christopher C. Piotrowski sold 16,218 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total transaction of $381,933.90. Following the transaction, the insider now directly owns 30,479 shares in the company, valued at approximately $717,780.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.61, for a total value of $236,100.00. Following the transaction, the chief executive officer now owns 127,585 shares in the company, valued at $3,012,281.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,772 shares of company stock worth $914,334. 1.80% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in ASB. Morgan Dempsey Capital Management LLC grew its stake in Associated Banc-Corp by 40.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Associated Banc-Corp by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock valued at $149,000 after purchasing an additional 549 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Associated Banc-Corp by 0.5% during the 1st quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock valued at $156,000 after purchasing an additional 30 shares during the last quarter. Flinton Capital Management LLC grew its stake in Associated Banc-Corp by 73.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock valued at $200,000 after purchasing an additional 3,360 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Associated Banc-Corp during the 1st quarter valued at about $210,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
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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