Associated Banc (NYSE:ASB) Rating Lowered to Hold at Wall Street Zen

Associated Banc (NYSE:ASB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other research analysts have also commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $30.00 price objective (up from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Keefe, Bruyette & Woods increased their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Associated Banc in a research report on Monday, December 29th. Barclays decreased their price target on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.20.

Associated Banc Trading Down 0.3%

Shares of ASB stock opened at $27.26 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. Associated Banc has a fifty-two week low of $18.32 and a fifty-two week high of $28.02. The firm’s 50 day moving average price is $26.45 and its two-hundred day moving average price is $25.84. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.26 and a beta of 0.79.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. The company had revenue of $393.52 million during the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, analysts anticipate that Associated Banc will post 2.43 EPS for the current year.

Associated Banc announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the sale, the executive vice president owned 109,842 shares in the company, valued at approximately $2,900,927.22. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Edward Ahern sold 30,489 shares of the 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 transaction, the executive vice president directly owned 24,055 shares in the company, valued at $618,213.50. The trade was a 55.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,951 shares of company stock worth $925,756 over the last ninety days. 1.45% 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 ASB. Pictet Asset Management Holding SA lifted its holdings in Associated Banc by 8.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 25,982 shares of the bank’s stock worth $669,000 after buying an additional 1,951 shares during the last quarter. Vanguard Group Inc. lifted its stake in Associated Banc by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after purchasing an additional 545,185 shares during the last quarter. N.E.W. Advisory Services LLC lifted its stake in Associated Banc by 53.3% during the fourth quarter. N.E.W. Advisory Services LLC now owns 17,999 shares of the bank’s stock worth $464,000 after purchasing an additional 6,258 shares during the last quarter. Ruffer LLP acquired a new position in Associated Banc in the fourth quarter worth $3,134,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Associated Banc by 51.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,132 shares of the bank’s stock valued at $1,420,000 after purchasing an additional 18,728 shares during the last quarter. 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.