Associated Banc (NYSE:ASB) Rating Increased to Buy at Wall Street Zen

Associated Banc (NYSE:ASB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts also recently issued research reports about the company. Raymond James Financial reiterated an “outperform” rating and set a $30.00 price target (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Barclays lowered their target price on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. UBS Group reiterated a “buy” rating and issued a $28.00 target price on shares of Associated Banc in a report on Tuesday, December 2nd. Royal Bank Of Canada restated a “sector perform” rating on shares of Associated Banc in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.20.

Associated Banc Stock Down 0.6%

Shares of NYSE:ASB opened at $26.44 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $4.39 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 0.78 and a beta of 0.81. Associated Banc has a 52 week low of $18.32 and a 52 week high of $27.58. The firm has a 50 day simple moving average of $25.63 and a 200 day simple moving average of $25.36.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.07. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. The firm had revenue of $390.71 million for the quarter, compared to analysts’ expectations of $377.94 million. During the same period in the previous year, the company posted $0.56 EPS. As a group, research analysts expect that Associated Banc will post 2.43 earnings per share for the current year.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Patrick Edward Ahern sold 30,489 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the sale, the executive vice president directly owned 24,055 shares of the company’s stock, valued at $618,213.50. The trade was a 55.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares in the company, valued at $2,900,927.22. This represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 35,951 shares of company stock valued at $925,756 over the last three months. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

A number of institutional investors and hedge funds have recently made changes to their positions in ASB. Hantz Financial Services Inc. increased its holdings in shares of Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,139 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after purchasing an additional 408 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Associated Banc during the second quarter valued at approximately $34,000. Finally, Quent Capital LLC bought a new position in shares of Associated Banc in the third quarter valued at approximately $34,000. Institutional investors and hedge funds 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.