Robert W. Baird Reiterates “Hold” Rating for Associated Banc-Corp (ASB)
Associated Banc-Corp (NYSE:ASB)‘s stock had its “hold” rating reiterated by stock analysts at Robert W. Baird in a note issued to investors on Sunday. They currently have a $25.00 target price on the bank’s stock. Robert W. Baird’s price objective points to a potential upside of 1.83% from the stock’s previous close.
Several other brokerages have also issued reports on ASB. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 7th. BidaskClub upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and set a $27.00 price target on shares of Associated Banc-Corp in a research report on Sunday, June 11th. Zacks Investment Research lowered Associated Banc-Corp from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $25.00 price target (up from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.25.
Associated Banc-Corp (NYSE ASB) opened at 24.55 on Friday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 17.66 and a beta of 1.19. The company’s 50-day moving average price is $22.60 and its 200-day moving average price is $23.95. Associated Banc-Corp has a 1-year low of $18.85 and a 1-year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The business had revenue of $266.23 million during the quarter, compared to analyst estimates of $273.29 million. During the same period last year, the business posted $0.31 earnings per share. Equities research analysts expect that Associated Banc-Corp will post $1.43 earnings per share for the current fiscal year.
In other news, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.61, for a total value of $236,100.00. Following the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at $3,012,281.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher C. Piotrowski sold 16,218 shares of the stock in a transaction on 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 have sold 38,772 shares of company stock valued at $914,334 in the last quarter. 1.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Wedge Capital Management L L P NC boosted its stake in Associated Banc-Corp by 0.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 27,159 shares of the bank’s stock worth $684,000 after purchasing an additional 123 shares in the last quarter. Citigroup Inc. grew its position in Associated Banc-Corp by 1.0% during the 2nd quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock valued at $407,000 after purchasing an additional 155 shares during the last quarter. World Asset Management Inc grew its position in Associated Banc-Corp by 2.5% during the 2nd quarter. World Asset Management Inc now owns 9,629 shares of the bank’s stock valued at $243,000 after purchasing an additional 236 shares during the last quarter. Alpha Windward LLC grew its position in Associated Banc-Corp by 1.6% during the 2nd quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock valued at $467,000 after purchasing an additional 300 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Associated Banc-Corp by 3.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,169 shares of the bank’s stock valued at $307,000 after purchasing an additional 384 shares during the last quarter. 77.47% 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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