Associated Banc Corp (ASB) Receives Average Recommendation of “Hold” from Analysts

Shares of Associated Banc Corp (NYSE:ASB) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $27.75.

Several equities analysts have commented on the stock. Robert W. Baird reiterated a “buy” rating and issued a $30.00 price objective on shares of Associated Banc in a report on Tuesday, July 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective on shares of Associated Banc in a report on Friday, July 20th. Zacks Investment Research downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. ValuEngine upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $29.50 price objective (down from $30.00) on shares of Associated Banc in a report on Tuesday, September 18th.

In related news, insider Timothy J. Lau sold 19,834 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $28.08, for a total value of $556,938.72. Following the transaction, the insider now directly owns 69,098 shares in the company, valued at $1,940,271.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Hutchinson purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $100,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 121,000 shares of company stock worth $3,025,000 and sold 40,675 shares worth $1,135,267. Corporate insiders own 2.13% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ASB. Glen Harbor Capital Management LLC lifted its position in Associated Banc by 9.9% during the second quarter. Glen Harbor Capital Management LLC now owns 21,196 shares of the bank’s stock worth $579,000 after purchasing an additional 1,904 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Associated Banc by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 65,668 shares of the bank’s stock worth $1,793,000 after purchasing an additional 1,910 shares during the period. Arizona State Retirement System lifted its position in Associated Banc by 1.7% during the second quarter. Arizona State Retirement System now owns 117,393 shares of the bank’s stock worth $3,205,000 after purchasing an additional 1,989 shares during the period. Foundry Partners LLC lifted its position in Associated Banc by 0.3% during the third quarter. Foundry Partners LLC now owns 725,849 shares of the bank’s stock worth $18,872,000 after purchasing an additional 2,042 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in Associated Banc by 9.4% during the second quarter. Wedge Capital Management L L P NC now owns 25,270 shares of the bank’s stock worth $690,000 after purchasing an additional 2,166 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.

ASB traded down $1.10 during trading on Friday, reaching $23.43. 149,922 shares of the stock were exchanged, compared to its average volume of 1,405,078. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.80 and a beta of 0.95. Associated Banc has a twelve month low of $23.25 and a twelve month high of $29.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 18th. The bank reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. The business had revenue of $307.69 million for the quarter, compared to the consensus estimate of $321.04 million. Associated Banc had a net margin of 20.00% and a return on equity of 9.10%. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, research analysts forecast that Associated Banc will post 2.01 earnings per share for the current year.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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Analyst Recommendations for Associated Banc (NYSE:ASB)

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