Stephens Reiterates Equal Weight Rating for Associated Banc (NYSE:ASB)

Associated Banc (NYSE:ASB)‘s stock had its “equal weight” rating restated by equities researchers at Stephens in a research note issued to investors on Friday,Benzinga reports. They presently have a $28.00 price objective on the bank’s stock. Stephens’ price target would suggest a potential upside of 12.83% from the company’s previous close.

Other research analysts also recently issued reports about the company. Robert W. Baird cut their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday. Piper Sandler boosted their target price on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Barclays increased their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $28.00 target price on shares of Associated Banc in a research report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Associated Banc has a consensus rating of “Hold” and an average price target of $26.78.

Associated Banc Stock Down 2.0 %

NYSE:ASB traded down $0.52 during mid-day trading on Friday, reaching $24.82. The company’s stock had a trading volume of 344,363 shares, compared to its average volume of 1,560,454. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc has a 1 year low of $19.40 and a 1 year high of $28.18. The stock has a fifty day moving average of $25.25 and a 200-day moving average of $23.37. The firm has a market capitalization of $3.75 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. Equities research analysts forecast that Associated Banc will post 2.15 earnings per share for the current year.

Insider Activity

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the sale, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASB. Point72 DIFC Ltd acquired a new position in shares of Associated Banc in the 3rd quarter valued at about $39,000. Crews Bank & Trust purchased a new position in shares of Associated Banc during the 4th quarter valued at approximately $56,000. Sugar Maple Asset Management LLC purchased a new stake in Associated Banc during the fourth quarter worth $64,000. R Squared Ltd purchased a new position in Associated Banc in the fourth quarter valued at $67,000. Finally, Farther Finance Advisors LLC raised its position in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after acquiring an additional 1,438 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Company Profile

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.