Associated Banc-Corp (ASB) – Investment Analysts’ Recent Ratings Updates
A number of firms have modified their ratings and price targets on shares of Associated Banc-Corp (NYSE: ASB) recently:
- 10/24/2017 – Associated Banc-Corp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Associated Banc-Corp’s shares have outperformed the industry in the last three months. The company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company’s third-quarter 2017 earnings benefited from higher net interest income and a fall in credit costs, partially offset by a marginal increase in expenses and lower fee income. Higher interest rates, rise in loan demand and improving asset quality should support its profitability. While mounting expenses (mainly due to continued investment in franchise, and merger and integration costs) remains a key near-term concern, acquisition of Whitnell and deal to acquire Bank Mutual reflect a strong balance sheet position. These deals are expected to be accretive the company’s earnings going forward.”
- 10/23/2017 – Associated Banc-Corp had its price target raised by analysts at Barclays PLC from $26.00 to $27.00. They now have an “equal weight” rating on the stock.
- 10/21/2017 – Associated Banc-Corp was given a new $26.00 price target on by analysts at SunTrust Banks, Inc.. They now have a “hold” rating on the stock.
- 10/12/2017 – Associated Banc-Corp had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $28.00 price target on the stock.
- 10/12/2017 – Associated Banc-Corp had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $24.00 price target on the stock.
- 10/1/2017 – Associated Banc-Corp had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $25.00 price target on the stock.
- 9/22/2017 – Associated Banc-Corp had its “neutral” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
- 9/6/2017 – Associated Banc-Corp was upgraded by analysts at DA Davidson from an “underperform” rating to a “neutral” rating. They now have a $21.00 price target on the stock.
- 9/1/2017 – Associated Banc-Corp was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
Associated Banc-Corp (ASB) opened at 25.65 on Wednesday. Associated Banc-Corp has a 12-month low of $19.55 and a 12-month high of $26.70. The firm has a market cap of $3.89 billion, a PE ratio of 18.45 and a beta of 1.20. The company has a 50-day moving average price of $23.74 and a 200-day moving average price of $24.02.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The firm had revenue of $276.02 million during the quarter, compared to the consensus estimate of $276.88 million. Associated Banc-Corp had a net margin of 19.54% and a return on equity of 7.81%. During the same quarter last year, the firm earned $0.31 earnings per share. On average, equities analysts predict that Associated Banc-Corp will post $1.48 earnings per share for the current year.
In related news, insider John A. Utz sold 8,054 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $23.62, for a total value of $190,235.48. Following the completion of the sale, the insider now owns 44,405 shares in the company, valued at $1,048,846.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $23.57, for a total transaction of $106,065.00. Following the completion of the sale, the director now owns 27,004 shares of the company’s stock, valued at approximately $636,484.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,772 shares of company stock valued at $914,334. 1.80% of the stock is owned by insiders.
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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