Associated Banc-Corp (NYSE:ASB) Given a $25.00 Price Target by Piper Jaffray Companies Analysts

Associated Banc-Corp (NYSE:ASB) has been given a $25.00 target price by research analysts at Piper Jaffray Companies in a research note issued to investors on Saturday, July 22nd. The firm presently has a “hold” rating on the bank’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 14.68% from the stock’s previous close.

A number of other research firms also recently issued reports on ASB. Jefferies Group LLC reissued a “hold” rating and issued a $27.00 price objective on shares of Associated Banc-Corp in a report on Sunday, June 11th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 price objective on shares of Associated Banc-Corp in a report on Friday, July 21st. Zacks Investment Research downgraded shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, April 7th. SunTrust Banks, Inc. raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Finally, BidaskClub raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Associated Banc-Corp presently has an average rating of “Hold” and a consensus target price of $25.00.

Associated Banc-Corp (ASB) traded down 0.46% during trading on Friday, reaching $21.80. The company had a trading volume of 855,276 shares. The firm has a market capitalization of $3.31 billion, a P/E ratio of 15.68 and a beta of 1.16. The company has a 50-day moving average of $23.92 and a 200-day moving average of $24.59. Associated Banc-Corp has a 52-week low of $18.85 and a 52-week high of $26.70.

Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. During the same quarter in the previous year, the firm posted $0.31 EPS. Analysts expect that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.

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In other Associated Banc-Corp news, insider Christopher C. Piotrowski sold 16,218 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total transaction of $381,933.90. Following the sale, the insider now directly owns 30,479 shares of the company’s stock, valued at approximately $717,780.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John A. Utz sold 8,054 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $23.62, for a total transaction of $190,235.48. Following the sale, the insider now directly owns 44,405 shares in the company, valued at $1,048,846.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,772 shares of company stock valued at $914,334. 1.80% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the company. North Star Asset Management Inc. raised its stake in 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 buying an additional 4,209 shares during the last quarter. Public Employees Retirement System of Ohio raised its position 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 valued at $2,012,000 after buying an additional 2,256 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Associated Banc-Corp during the second quarter valued at about $581,000. Ameritas Investment Partners Inc. raised its position 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 valued at $1,149,000 after buying an additional 806 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position 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 valued at $5,630,000 after buying an additional 4,459 shares in the last quarter. 78.54% of the stock is currently 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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