Associated Banc (NYSE:ASB) had its price objective lifted by equities researchers at Morgan Stanley from $25.50 to $28.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price objective would suggest a potential upside of 10.67% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, October 24th. Barclays lifted their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. SunTrust Banks reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc in a report on Wednesday, November 29th. ValuEngine downgraded Associated Banc from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Robert W. Baird reissued a “hold” rating and issued a $25.00 price objective on shares of Associated Banc in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $26.18.
Shares of Associated Banc (NYSE:ASB) traded up $0.35 during midday trading on Wednesday, hitting $25.30. The stock had a trading volume of 1,094,600 shares, compared to its average volume of 902,858. The company has a market capitalization of $3,771.56, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.38 and a beta of 1.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 0.90. Associated Banc has a one year low of $20.95 and a one year high of $26.70.
In other Associated Banc news, insider William M. Bohn sold 15,946 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $26.00, for a total transaction of $414,596.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Moral-Niles Christopher Del sold 1,476 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $26.00, for a total transaction of $38,376.00. Following the transaction, the chief financial officer now directly owns 81,784 shares of the company’s stock, valued at approximately $2,126,384. The disclosure for this sale can be found here. In the last three months, insiders sold 61,426 shares of company stock worth $1,558,805. 1.80% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Wedge Capital Management L L P NC increased its holdings in shares of Associated Banc by 0.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 27,159 shares of the bank’s stock worth $684,000 after buying an additional 123 shares during the last quarter. Citigroup Inc. grew its holdings in Associated Banc by 1.0% during the 2nd quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock valued at $407,000 after purchasing an additional 155 shares during the last quarter. World Asset Management Inc grew its holdings in Associated Banc by 2.5% during the 2nd quarter. World Asset Management Inc now owns 9,629 shares of the bank’s stock valued at $243,000 after purchasing an additional 236 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Associated Banc by 3.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,169 shares of the bank’s stock valued at $307,000 after buying an additional 384 shares during the period. Finally, Utah Retirement Systems boosted its position in Associated Banc by 1.8% in the 2nd quarter. Utah Retirement Systems now owns 27,628 shares of the bank’s stock valued at $696,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 77.45% of the company’s stock.
Associated Banc Company Profile
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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