Associated Banc-Corp (ASB) Given Average Recommendation of “Hold” by Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have been given an average rating of “Hold” by the thirteen brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.88.

A number of research analysts have weighed in on the company. Morgan Stanley increased their price target on Associated Banc from $25.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. SunTrust Banks reissued a “hold” rating and set a $27.00 price target on shares of Associated Banc in a research note on Wednesday, November 29th. Zacks Investment Research lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Barclays increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $28.00 target price on shares of Associated Banc in a research report on Thursday, October 12th.

In other news, Director William R. Hutchinson sold 4,632 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $25.70, for a total transaction of $119,042.40. Following the completion of the sale, the director now directly owns 91,209 shares in the company, valued at $2,344,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 1,476 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $26.00, for a total value of $38,376.00. Following the sale, the chief financial officer now owns 81,784 shares of the company’s stock, valued at $2,126,384. The disclosure for this sale can be found here. Insiders have sold 61,426 shares of company stock valued at $1,558,805 over the last 90 days. Insiders own 1.80% of the company’s stock.

Several hedge funds have recently modified their holdings of ASB. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Associated Banc by 10.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after purchasing an additional 549 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Associated Banc during the third quarter worth about $157,000. Meeder Asset Management Inc. lifted its position in shares of Associated Banc by 393.4% during the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after purchasing an additional 5,838 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Associated Banc by 73.4% during the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after purchasing an additional 3,360 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in shares of Associated Banc by 73.6% during the second quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock worth $223,000 after purchasing an additional 3,754 shares during the last quarter. 77.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Associated Banc (NYSE:ASB) traded up $0.40 during trading on Monday, hitting $25.35. The company’s stock had a trading volume of 2,875,800 shares, compared to its average volume of 911,647. Associated Banc has a one year low of $20.95 and a one year high of $26.70. The stock has a market cap of $3,832.03, a price-to-earnings ratio of 17.36, a PEG ratio of 2.42 and a beta of 1.19. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. The company had revenue of $276.02 million for the quarter, compared to analyst estimates of $276.88 million. During the same quarter in the prior year, the company posted $0.31 EPS. analysts forecast that Associated Banc will post 1.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.3828 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.53 annualized dividend and a dividend yield of 6.04%. Associated Banc’s dividend payout ratio is presently 38.36%.

TRADEMARK VIOLATION WARNING: This report was originally published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States and international copyright laws. The original version of this report can be read at https://www.com-unik.info/2017/12/18/associated-banc-corp-asb-given-average-recommendation-of-hold-by-analysts.html.

About Associated Banc

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.

Analyst Recommendations for Associated Banc (NYSE:ASB)

What are top analysts saying about Associated Banc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Associated Banc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit