Associated Banc (NYSE:ASB) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.
ASB has been the subject of several other research reports. Bank of America set a $19.00 price target on shares of Associated Banc and gave the company a “sell” rating in a research report on Friday, October 25th. Zacks Investment Research raised Associated Banc from a “strong sell” rating to a “hold” rating and set a $17.00 price objective on the stock in a research report on Tuesday, October 29th. SunTrust Banks set a $22.00 price target on Associated Banc and gave the stock a “hold” rating in a report on Monday, September 9th. ValuEngine raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Stephens set a $22.00 price objective on Associated Banc and gave the company a “hold” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Associated Banc currently has an average rating of “Hold” and a consensus price target of $22.00.
NYSE:ASB opened at $21.35 on Tuesday. Associated Banc has a 52 week low of $18.52 and a 52 week high of $23.83. The stock’s fifty day moving average is $21.04 and its two-hundred day moving average is $20.56. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.00.
In other news, insider Tammy C. Stadler sold 5,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $21.50, for a total transaction of $124,700.00. Following the sale, the insider now owns 41,991 shares of the company’s stock, valued at approximately $902,806.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William M. Bohn sold 15,481 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $21.53, for a total value of $333,305.93. Following the sale, the executive vice president now directly owns 73,721 shares in the company, valued at approximately $1,587,213.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,281 shares of company stock worth $1,147,056. 2.69% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in shares of Associated Banc by 8.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,489,109 shares of the bank’s stock valued at $52,620,000 after purchasing an additional 187,513 shares during the last quarter. LSV Asset Management increased its position in Associated Banc by 20.6% in the 2nd quarter. LSV Asset Management now owns 2,221,064 shares of the bank’s stock valued at $46,953,000 after acquiring an additional 379,450 shares during the period. Pzena Investment Management LLC raised its stake in Associated Banc by 1.2% during the 2nd quarter. Pzena Investment Management LLC now owns 2,133,134 shares of the bank’s stock valued at $45,094,000 after acquiring an additional 24,292 shares during the last quarter. Balyasny Asset Management LLC raised its stake in Associated Banc by 167.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,840,627 shares of the bank’s stock valued at $38,911,000 after acquiring an additional 1,152,212 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Associated Banc during the 2nd quarter valued at approximately $35,221,000. Institutional investors own 73.30% of the company’s stock.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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