Associated Banc-Corp (ASB) Given Hold Rating at SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their hold rating on shares of Associated Banc-Corp (NYSE:ASB) in a report issued on Thursday. They currently have a $24.00 target price on the bank’s stock.

Other research analysts have also issued reports about the stock. Morgan Stanley reaffirmed an equal weight rating and issued a $25.00 price target (up from $24.00) on shares of Associated Banc-Corp in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a hold rating and issued a $27.00 price target on shares of Associated Banc-Corp in a report on Friday, August 11th. Zacks Investment Research raised shares of Associated Banc-Corp from a sell rating to a hold rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $25.00 price target on shares of Associated Banc-Corp and gave the company a hold rating in a report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $26.00 price target on shares of Associated Banc-Corp in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Associated Banc-Corp presently has a consensus rating of Hold and a consensus target price of $25.20.

Shares of Associated Banc-Corp (NYSE ASB) opened at 24.40 on Thursday. The stock has a market capitalization of $3.70 billion, a PE ratio of 17.55 and a beta of 1.19. Associated Banc-Corp has a one year low of $19.00 and a one year high of $26.70. The stock has a 50 day moving average of $23.24 and a 200-day moving average of $23.98.

Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $266.23 million during the quarter, compared to analyst estimates of $273.29 million. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. During the same period last year, the business earned $0.31 EPS. Equities analysts predict that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.

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In related news, insider John A. Utz sold 8,054 shares of Associated Banc-Corp stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $23.62, for a total value of $190,235.48. Following the sale, the insider now directly owns 44,405 shares in the company, valued at approximately $1,048,846.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of Associated Banc-Corp stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total transaction of $381,933.90. Following the completion of the sale, the insider now owns 30,479 shares in the company, valued at $717,780.45. The disclosure for this sale can be found here. Insiders sold a total of 38,772 shares of company stock valued at $914,334 over the last ninety days. Company insiders own 1.80% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Associated Banc-Corp by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock valued at $321,025,000 after purchasing an additional 248,381 shares during the last quarter. State Street Corp lifted its position in Associated Banc-Corp by 2.0% in the 2nd quarter. State Street Corp now owns 6,922,074 shares of the bank’s stock valued at $174,433,000 after purchasing an additional 136,874 shares during the last quarter. Alliancebernstein L.P. lifted its position in Associated Banc-Corp by 4.0% in the 2nd quarter. Alliancebernstein L.P. now owns 4,193,941 shares of the bank’s stock valued at $105,687,000 after purchasing an additional 163,081 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its position in Associated Banc-Corp by 1.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 2,265,086 shares of the bank’s stock valued at $57,080,000 after purchasing an additional 35,960 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Associated Banc-Corp by 2.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock valued at $46,389,000 after purchasing an additional 38,996 shares during the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.

Associated Banc-Corp 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.

Analyst Recommendations for Associated Banc-Corp (NYSE:ASB)

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