Raymond James Reaffirms Hold Rating for Associated Banc (NYSE:ASB)

Raymond James reiterated their hold rating on shares of Associated Banc (NYSE:ASB) in a research report released on Monday, AnalystRatings.com reports.

ASB has been the subject of several other research reports. ValuEngine raised shares of Associated Banc from a sell rating to a hold rating in a research report on Thursday, August 6th. Jefferies Financial Group downgraded shares of Associated Banc from a buy rating to a hold rating and reduced their price target for the company from $15.00 to $13.00 in a research report on Thursday, July 9th. Finally, SunTrust Banks lifted their price target on shares of Associated Banc from $14.00 to $15.00 and gave the company a hold rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $17.13.

NYSE:ASB opened at $13.42 on Monday. The company has a fifty day moving average of $13.57 and a 200-day moving average of $13.58. The firm has a market capitalization of $2.06 billion, a P/E ratio of 6.30, a P/E/G ratio of 2.04 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.87. Associated Banc has a twelve month low of $10.23 and a twelve month high of $22.60.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $448.34 million during the quarter, compared to analyst estimates of $323.82 million. Associated Banc had a net margin of 21.70% and a return on equity of 6.88%. On average, analysts anticipate that Associated Banc will post 0.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date was Monday, August 31st. Associated Banc’s dividend payout ratio is currently 36.55%.

In other news, CFO Moral-Niles Christopher Del acquired 2,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average cost of $12.98 per share, for a total transaction of $25,960.00. Following the purchase, the chief financial officer now owns 58,850 shares of the company’s stock, valued at approximately $763,873. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.38% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Associated Banc by 9.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,100 shares of the bank’s stock worth $425,000 after purchasing an additional 2,700 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Associated Banc by 10.4% during the second quarter. Principal Financial Group Inc. now owns 743,479 shares of the bank’s stock worth $10,171,000 after purchasing an additional 70,314 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Associated Banc during the second quarter worth about $199,000. Handelsbanken Fonder AB purchased a new position in shares of Associated Banc during the second quarter worth about $451,000. Finally, Nuveen Asset Management LLC grew its holdings in shares of Associated Banc by 4.5% during the second quarter. Nuveen Asset Management LLC now owns 406,666 shares of the bank’s stock worth $5,563,000 after purchasing an additional 17,491 shares in the last quarter. Hedge funds and other institutional investors own 71.81% of the company’s stock.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses 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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