Associated Banc-Corp’s (ASB) “Hold” Rating Reiterated at Robert W. Baird
Associated Banc-Corp (NYSE:ASB)‘s stock had its “hold” rating reissued by stock analysts at Robert W. Baird in a research note issued to investors on Sunday. They presently have a $25.00 price objective on the bank’s stock. Robert W. Baird’s price target would indicate a potential upside of 3.09% from the company’s previous close.
ASB has been the topic of a number of other reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price objective on shares of Associated Banc-Corp in a research note on Sunday, June 11th. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, June 21st. BidaskClub cut Associated Banc-Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 price objective (up from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research note on Friday, July 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Associated Banc-Corp currently has an average rating of “Hold” and a consensus target price of $25.25.
Associated Banc-Corp (NYSE:ASB) opened at 24.25 on Friday. Associated Banc-Corp has a one year low of $18.85 and a one year high of $26.70. The firm’s 50-day moving average price is $22.44 and its 200 day moving average price is $24.03. The firm has a market capitalization of $3.68 billion, a P/E ratio of 17.45 and a beta of 1.17.
Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $266.23 million for the quarter, compared to analysts’ expectations of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.
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In related news, Director Eileen A. Kamerick sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $23.57, for a total value of $106,065.00. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $636,484.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the sale, the insider now directly owns 30,479 shares in the company, valued at $717,780.45. The disclosure for this sale can be found here. Insiders sold 38,772 shares of company stock worth $914,334 over the last three months. 1.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. North Star Asset Management Inc. grew its stake in shares of Associated Banc-Corp by 6.2% in the second quarter. North Star Asset Management Inc. now owns 71,936 shares of the bank’s stock worth $1,813,000 after purchasing an additional 4,209 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Associated Banc-Corp by 2.9% in the second quarter. Public Employees Retirement System of Ohio now owns 79,828 shares of the bank’s stock worth $2,012,000 after purchasing an additional 2,256 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Associated Banc-Corp in the second quarter worth about $581,000. Ameritas Investment Partners Inc. grew its stake in shares of Associated Banc-Corp by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 45,582 shares of the bank’s stock worth $1,149,000 after purchasing an additional 806 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Associated Banc-Corp by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 223,402 shares of the bank’s stock worth $5,630,000 after purchasing an additional 4,459 shares during the last quarter. 77.47% of the stock is currently owned by 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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