Associated Banc (NYSE:ASB) Given “Equal Weight” Rating at Stephens

Stephens reissued their equal weight rating on shares of Associated Banc (NYSE:ASB) in a report released on Friday morning, Benzinga reports. Stephens currently has a $23.00 target price on the bank’s stock.

Several other equities analysts have also recently weighed in on ASB. Raymond James raised their price target on shares of Associated Banc from $21.00 to $25.00 and gave the company an outperform rating in a research report on Monday, January 29th. Piper Sandler raised their target price on Associated Banc from $21.50 to $23.00 and gave the company a neutral rating in a report on Friday, January 26th. Royal Bank of Canada reiterated a sector perform rating and set a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Barclays increased their price target on Associated Banc from $22.00 to $24.00 and gave the company an equal weight rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Associated Banc from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc presently has an average rating of Hold and a consensus price target of $23.13.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $21.59 on Friday. The stock’s 50 day moving average is $20.80 and its 200-day moving average is $19.83. Associated Banc has a twelve month low of $14.47 and a twelve month high of $22.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 1.27 and a beta of 1.00.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $322.84 million for the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. Sell-side analysts forecast that Associated Banc will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now owns 50,126 shares in the company, valued at approximately $1,053,648.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of Associated Banc stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the sale, the director now owns 50,126 shares of the company’s stock, valued at $1,053,648.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Utz sold 14,010 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at $1,905,456. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,710 shares of company stock worth $454,897. 1.45% of the stock is owned by company insiders.

Institutional Trading of Associated Banc

A number of large investors have recently bought and sold shares of the company. AlphaMark Advisors LLC increased its stake in shares of Associated Banc by 3.6% in the fourth quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock worth $307,000 after purchasing an additional 494 shares in the last quarter. Arizona State Retirement System grew its stake in Associated Banc by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 42,963 shares of the bank’s stock valued at $735,000 after buying an additional 587 shares in the last quarter. KLCM Advisors Inc. grew its stake in Associated Banc by 1.4% in the 4th quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank’s stock valued at $964,000 after buying an additional 611 shares in the last quarter. State of Michigan Retirement System raised its holdings in Associated Banc by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock valued at $785,000 after acquiring an additional 800 shares during the period. Finally, N.E.W. Advisory Services LLC lifted its position in shares of Associated Banc by 7.5% during the fourth quarter. N.E.W. Advisory Services LLC now owns 11,963 shares of the bank’s stock worth $256,000 after acquiring an additional 835 shares in the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

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. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.