Associated Banc (NYSE:ASB) Earns Equal Weight Rating from Stephens

Associated Banc (NYSE:ASB)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Stephens in a research note issued on Friday,Benzinga reports. They currently have a $28.00 price objective on the bank’s stock. Stephens’ price target points to a potential upside of 11.62% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler upped their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Wells Fargo & Company upped their price objective on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $28.00 target price on shares of Associated Banc in a research report on Thursday, December 5th. Barclays increased their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.67.

Associated Banc Price Performance

Shares of ASB stock opened at $25.09 on Friday. Associated Banc has a 1 year low of $19.40 and a 1 year high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $25.22 and its 200-day moving average is $23.42. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. Sell-side analysts forecast that Associated Banc will post 2.15 EPS for the current fiscal year.

Insider Activity at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently modified their holdings of ASB. Point72 DIFC Ltd bought a new stake in shares of Associated Banc during the 3rd quarter worth about $39,000. Crews Bank & Trust bought a new stake in shares of Associated Banc during the fourth quarter worth approximately $56,000. Sugar Maple Asset Management LLC acquired a new position in shares of Associated Banc in the fourth quarter valued at approximately $64,000. R Squared Ltd bought a new position in shares of Associated Banc during the fourth quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC lifted its holdings in Associated Banc by 82.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after purchasing an additional 1,438 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.