Associated Banc’s (ASB) “Equal Weight” Rating Reiterated at Stephens

Associated Banc (NYSE:ASB)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a report issued on Tuesday,Benzinga reports. They presently have a $28.00 price target on the bank’s stock. Stephens’ price objective suggests a potential upside of 20.63% from the stock’s previous close.

Several other research analysts also recently issued reports on ASB. Barclays raised their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Royal Bank of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Robert W. Baird decreased their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Finally, Piper Sandler boosted their target price on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.11.

Associated Banc Stock Up 0.0 %

Shares of NYSE:ASB traded up $0.01 during trading on Tuesday, hitting $23.21. The company’s stock had a trading volume of 150,984 shares, compared to its average volume of 1,391,885. The company has a market capitalization of $3.84 billion, a PE ratio of 29.38, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. Associated Banc has a fifty-two week low of $19.76 and a fifty-two week high of $28.18. The business has a 50 day moving average price of $24.20 and a two-hundred day moving average price of $23.99.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. As a group, research analysts expect that Associated Banc will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the sale, the director now directly owns 66,915 shares in the company, valued at $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP grew its holdings in Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank’s stock valued at $26,000 after purchasing an additional 651 shares during the period. Covestor Ltd boosted its holdings in shares of Associated Banc by 221.0% in the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,032 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc during the 3rd quarter valued at $39,000. Smartleaf Asset Management LLC grew its stake in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after buying an additional 579 shares during the period. Finally, Crews Bank & Trust acquired a new stake in shares of Associated Banc during the 4th quarter worth $56,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

About Associated Banc

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.