Wall Street Zen Downgrades Associated Banc (NYSE:ASB) to Hold

Associated Banc (NYSE:ASB) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada increased their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. Piper Sandler upped their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $30.00 to $29.00 in a report on Friday. Finally, UBS Group reiterated a “buy” rating and set a $28.00 price target on shares of Associated Banc in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Associated Banc has an average rating of “Moderate Buy” and a consensus price target of $29.20.

Associated Banc Stock Down 0.0%

ASB opened at $24.86 on Friday. Associated Banc has a 52 week low of $18.32 and a 52 week high of $29.51. The business has a 50 day moving average price of $26.68 and a two-hundred day moving average price of $26.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. The company has a market cap of $4.11 billion, a PE ratio of 8.97, a P/E/G ratio of 1.16 and a beta of 0.80.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The company had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same period last year, the business posted $0.72 EPS. As a group, research analysts anticipate that Associated Banc will post 2.43 EPS for the current year.

Associated Banc declared that its board has initiated a stock buyback program on Tuesday, January 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the sale, the director directly owned 49,264 shares in the company, valued at approximately $1,380,377.28. The trade was a 11.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Edward Ahern sold 14,731 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total transaction of $427,640.93. Following the transaction, the executive vice president directly owned 39,401 shares in the company, valued at approximately $1,143,811.03. This trade represents a 27.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,656 shares of company stock valued at $677,789. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. purchased a new position in shares of Associated Banc during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its stake in Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after buying an additional 408 shares in the last quarter. Quent Capital LLC purchased a new stake in Associated Banc in the 3rd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after buying an additional 1,047 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Associated Banc during the 3rd quarter valued at $39,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.