Associated Banc (ASB) Given “Hold” Rating at Piper Jaffray Companies

Associated Banc (NYSE:ASB)‘s stock had its “hold” rating reiterated by Piper Jaffray Companies in a note issued to investors on Tuesday. They currently have a $27.00 target price on the bank’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 2.66% from the company’s current price.

Several other research firms have also recently commented on ASB. Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays upped their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. SunTrust Banks set a $26.00 price target on Associated Banc and gave the stock a “hold” rating in a research note on Saturday, October 21st. Jefferies Group reiterated a “hold” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Thursday, October 12th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $25.00 price objective on shares of Associated Banc in a research report on Sunday, October 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $26.60.

Associated Banc (ASB) traded up $0.40 during trading on Tuesday, hitting $26.30. The stock had a trading volume of 1,022,364 shares, compared to its average volume of 935,914. Associated Banc has a twelve month low of $20.95 and a twelve month high of $26.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market capitalization of $3,990.00, a PE ratio of 18.14, a PEG ratio of 2.26 and a beta of 1.19.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. The business had revenue of $276.02 million during the quarter, compared to analysts’ expectations of $276.88 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. sell-side analysts expect that Associated Banc will post 1.49 EPS for the current fiscal year.

In other Associated Banc news, insider Breck F. Hanson sold 11,373 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $24.92, for a total value of $283,415.16. Following the completion of the transaction, the insider now owns 37,722 shares in the company, valued at $940,032.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Hutchinson sold 4,632 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $25.70, for a total value of $119,042.40. Following the completion of the transaction, the director now owns 91,209 shares of the company’s stock, valued at approximately $2,344,071.30. The disclosure for this sale can be found here. Insiders sold 61,426 shares of company stock valued at $1,558,805 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of Associated Banc by 1.0% in the second quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock valued at $407,000 after buying an additional 155 shares in the last quarter. Utah Retirement Systems increased its position in shares of Associated Banc by 1.8% in the second quarter. Utah Retirement Systems now owns 27,628 shares of the bank’s stock valued at $696,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Associated Banc by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock valued at $149,000 after buying an additional 549 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Associated Banc by 3.5% in the second quarter. Suntrust Banks Inc. now owns 20,192 shares of the bank’s stock valued at $508,000 after buying an additional 679 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Associated Banc 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. Institutional investors and hedge funds own 77.43% of the company’s stock.

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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)

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