Associated Banc-Corp (NYSE:ASB) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, July 6th.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, June 21st. Jefferies Group LLC restated a “hold” rating and set a $27.00 price target on shares of Associated Banc-Corp in a research note on Tuesday, April 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price target on shares of Associated Banc-Corp in a research note on Thursday, March 23rd. Finally, SunTrust Banks, Inc. upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.00.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 0.43% during trading on Thursday, reaching $23.45. The company’s stock had a trading volume of 899,629 shares. Associated Banc-Corp has a 12 month low of $18.33 and a 12 month high of $26.70. The firm has a market cap of $3.56 billion, a PE ratio of 16.87 and a beta of 1.16. The stock’s 50 day moving average price is $24.67 and its 200-day moving average price is $24.79.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm 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 quarter last year, the business posted $0.31 EPS. Equities analysts predict that Associated Banc-Corp will post $1.43 EPS for the current year.
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In related news, Director Eileen A. Kamerick sold 4,500 shares of Associated Banc-Corp stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.57, for a total value of $106,065.00. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at approximately $636,484.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John A. Utz sold 8,054 shares of Associated Banc-Corp stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $23.62, for a total transaction of $190,235.48. Following the completion of the transaction, the insider now owns 44,405 shares of the company’s stock, valued at $1,048,846.10. The disclosure for this sale can be found here. Insiders sold a total of 22,554 shares of company stock valued at $532,400 over the last quarter. 1.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new position in shares of Associated Banc-Corp during the first quarter valued at approximately $237,000. Parametrica Management Ltd purchased a new position in shares of Associated Banc-Corp during the first quarter valued at approximately $359,000. Alpha Windward LLC purchased a new position in shares of Associated Banc-Corp during the first quarter valued at approximately $445,000. Capstone Asset Management Co. increased its position in shares of Associated Banc-Corp by 2.6% in the first quarter. Capstone Asset Management Co. now owns 16,071 shares of the bank’s stock valued at $392,000 after buying an additional 410 shares during the last quarter. Finally, Foundry Partners LLC increased its position in shares of Associated Banc-Corp by 6.9% in the first quarter. Foundry Partners LLC now owns 691,698 shares of the bank’s stock valued at $16,877,000 after buying an additional 44,353 shares during the last quarter. 77.27% of the stock is owned by hedge funds and other institutional investors.
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.
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