Associated Banc (NYSE:ASB) PT Lowered to $22.00

Associated Banc (NYSE:ASB) had its target price dropped by stock analysts at Jefferies Financial Group from $24.00 to $22.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 5.31% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Barclays lowered their target price on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Wells Fargo & Company increased their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Stephens reiterated an “equal weight” rating and set a $23.00 target price on shares of Associated Banc in a research note on Friday, April 26th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc has a consensus rating of “Hold” and an average price target of $22.78.

Associated Banc Stock Performance

NYSE:ASB traded up $0.02 on Wednesday, hitting $20.89. The company’s stock had a trading volume of 185,105 shares, compared to its average volume of 1,311,739. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $21.15 and a two-hundred day moving average of $21.01. The firm has a market capitalization of $3.15 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. Associated Banc has a one year low of $15.16 and a one year high of $22.77.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $322.84 million for the quarter, compared to analyst estimates of $325.00 million. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Research analysts predict that Associated Banc will post 2.11 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Nicole M. Kitowski sold 5,019 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nicole M. Kitowski sold 5,019 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now directly owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC raised its position in shares of Associated Banc by 3.6% in the 4th quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock worth $307,000 after acquiring an additional 494 shares in the last quarter. KLCM Advisors Inc. raised its position in shares of Associated Banc by 1.4% in the 4th quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank’s stock worth $964,000 after acquiring an additional 611 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Associated Banc by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock worth $4,018,000 after acquiring an additional 651 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Associated Banc by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock worth $785,000 after acquiring an additional 800 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its position in shares of Associated Banc by 7.5% in the 4th quarter. N.E.W. Advisory Services LLC now owns 11,963 shares of the bank’s stock worth $256,000 after acquiring an additional 835 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

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.